If someone were to build a better search engine, yes. However, how do you do that if Google has its own data centers across the world, has special arrangements with ISPs so they can run edge servers directly in their networks and can cross-correlate their search results with data from all their other services - which include the aforementioned GMail, many millions of Chrome and Android installations and ad/analytics code embedded in a sizable percentage of all websites? Not to mention all the websites which will optimize their coffee for Google, not for your engine.
Note that I'm not talking about some clever algorithms or UI or any other kind of actual innovation. All that stuff is solely "capital" they could accumulate due to their existing power and reputation, but which gives them a huge advantage. A startup, no matter how genius their algorithms are, couldn't beat them in that field, simply because they don't have those resources.
Of course you could say "so what, that's the free market" - and of course building capital is a normal post of business - but when this inequality is so severe that it makes competition practically impossible (or only possible between 3 or 4 well-established players, as we see now) then I'd argue that something sounds be done.