It's not just about ChatGPT version 1. It's about the potential for chatbot technology to bypass Google altogether. While the answers provided by ChatGPT may not be perfect right now, what happens when they are close to perfect? Why would you use a traditional search engine when you can get the information you need in a far more efficient manner?
Google isn't at code red right now because of ChatGPT V1 but because of the next 10 years of chatbots.
For me, I have already changed my searching behavior for a quite a few (not all) queries .. A lot of my queries these days go ChatGPT -> Brave Search -> Google. Google being third down the list for me.