I think a lot of people believe exactly that. To take one example from the "We Have No Moat" essay:

"It doesn’t take long before the cumulative effect of all of these fine-tunings overcomes starting off at a size disadvantage. Indeed, in terms of engineer-hours, the pace of improvement from these models vastly outstrips what we can do with our largest variants, and the best are already largely indistinguishable from ChatGPT." - https://www.semianalysis.com/p/google-we-have-no-moat-and-ne...