They have the brand recognition (for ChatGPT) and that's a good start, but that's not enough. Providing a best in class user experience (which seems to be their focus now, with multimodality), a way to lock down their customers in some kind of walled garden, building some kind of network effect (what they tried with their marketplace for community-built “GPTs” last fall but I'm not sure it's working), something else?

At the end of the day they have no technological moat, so they'll need to build a business one, or perish.

For most tasks, pretty much every models from their competitors is more than good enough already, and it's only going to get worse as everyone improves. Being marginally better on 2% of tasks isn't going to be enough.