This is one of the best insights after reading 100+ posts here. You are talking about existing demand and existing relationships from their advert business. These customers are happy with Google results. The Google marketing team will be carefully defining new advert products that employ LLMs.

I would only offer one disagreement with your post: There will not be a single winner in LLMs. The landscape is so large that we will have multiple winners in different areas. Example: Google might fail in B2C LLM (chatbot that answers your questions), but will certainly be (wildly?) successful in B2B for adverts.

Hm, yes I agree that winner-take-all is not necessary. A viable monetization strategy is. Meta and Google have this through their ad business, and I think it's possible that some other smaller players might bring in revenue by targeting particular niches like industrial and defense customers who need an LLM product but have data security needs and can afford the product directly.