Google has all the pieces of the puzzle to infuse better LLM tech into their products, infact most of the technology in ChatGPT came from Google research efforts. If they want to compete they need to remove the red tape bureaucracy they have around launching products. There may be too much randomness in this tech to get past the launch line, but it depends how they integrate it. An actually useful Google Assistant infused into products, that helps you find information, complete tasks and create content seems like a no-brainer.