This announcement is hyping around ChatGPT on Bing, GPT-4, and potentially generative videos from images which is already around the corner. Google has the same set of this research and I expect this to be applied on to Google Search. But rather than to join the chorus of calls for the end of Google in two years because of ChatGPT, it is better to wait for what research Google has done before all of this, since right now, ChatGPT's capability is no better than a clever sophist unable to transparently explain itself.
It is not over for Google. They are fine. It is only over for both OpenAI and Google when an open source LLM that is better and smaller than ChatGPT is released; just like what Stable Diffusion did to DALL-E 2.
That is the real requirement that will change everything permanently.