Google is most likely already working on its own version. They have the resources and ML chops to probably build one far more powerful. I'd bet they'll stay dominant
Any tool that doesn’t force you to click on many page views to get an answer is bad for Google search. They want you to peruse and click on sites riddled with google ads as many times as possible. These incentives have led to quality of results getting worse over time. The only way Google is launching this type of model would be if they could embed ads in the answers and even potentially bake them in. Which would also make showing as many iterations as possible more lucrative, and thus disincentivize good performance. The problem with Ad platforms is that good user experience is a bug for the business model.
Maybe, but also think about the prompts. Google might be able to infer far more about your intentions from a fully formed question rather than a search query. Which will allow them to target you more precisely, allow them to sell data to product companies. Prompts are more personal and revealing, even the language you use.
You could also imagine inserting adverts into the generated response.