From a legal, PR, safety, resource, monetization perspective, they're quire treacherous products.
OpenAI released it because they needed to make money. Google were wise enough not to release the product, but as others have said, it's an arms race now and we'll be the guinea pigs.
Google on the other hand, has much much more to loose here, much bigger reputation to protect, and may have built an inferior product that's actually produced in a more legally compliant way.
Another example would be Midjourney vs Adobe Firefly, there is no way Firefly makes art as nice as MJ produces. Technically it's good stuff, but it's not as fun to use because I can't generate Pikachu photos with Firefly.
People have stated that ChatGPT-4 isn't as good anymore. My personally belief is this is just the shine wearing off what was a novelty. However it may also be OpenAI removing the stuff they shouldn't have used in the first place. Although there are reports the model hasn't changed for some time so who knows.
I guess in time we'll find out. Personally I don't really care for either product so much, most of my interactions have been fairly pointless.
I think it's just fun to watch these big tech companies try deal with these products they've created. It's amusing as fuck.