There seem to be opportunities for people to use technology like SeamlessM4T to improve lives, if it were licensed correctly, and I don't see how any commercial offering from smaller companies would compete with anything that Meta does. Last I checked, Meta has never offered any kind of translation or transcription API that third parties can use.
Whisper is licensed more permissively and does a great job with speech to text in some languages, and it can translate to English only. However, it can't translate between a large number of languages, and it doesn't have any kind of text to speech or speech to speech capabilities. SeamlessM4T seems like it would be an all-around upgrade.
[0]: https://github.com/facebookresearch/seamless_communication