Of course it's not flawless, Google isn't and people aren't... and those are the two targets for this tech. People lie, make mistakes and mislead and Google directs to plenty of problematic content.
The thing to watch isn't the position of GPT or any disruptive technology today, but its trajectory. The trajectory of GPT is explosive growth, and that growth will be disruptive to imperfect human jobs and imperfect search engines. GPT does not have to be perfect to be disruptive.
This is especially threatening to Google because they have an organization that has never had to compete, like pandas they just consume. They don't hunt. Look at their vast graveyard of platforms they couldn't sustain even with their monopolistic power and endless money.
Consumers and ad purchasers want competition in search because like Uber and Lyft demonstrate, when you have two technology products competing head to head the margins get compressed toward zero.
Edit: spelling