This is Epic, not google. They've only had 2 aquisitions "shut down", both of which were game studios. One being a studio that became independent again,
People Can Fly (Makers of
Outriders).
From a dev perspective of someone who's worked with several Epic tools I'm not immediately worried about what seems to be more of a technical acquisition. Historically they do seem to actually leave their subsidaries hand-off, integrating their tech into Unreal instead of absorbing it entirely. I imagine the extend of the ramifications here include some way to expand Unreal's Asset store to include music or SFX (which artists can opt into offering on the asset store).