Satya is not afraid of access, since he has OpenAI's stack and weights in the hands of Microsoft so it can run on Azure (for as long as they want). Azure has a SLA, and they are not going to let any sub service fail at the hands of an external organization.

Only thing that could be bad if future GPT releases are withheld from Microsoft. This is a worst case, but possible scenario, according to the structure of OpenAI. Microsoft might have an agreement for a length of time or profit to still get GPT 5 but maybe not GPT 6.

At that point, Microsoft is probably working on their own systems, and have enough time to make a competitor. Also, they can fund competition and get more access to models and stay ahead.

Overall situation for Microsoft is just doubling down on their innovation and investments, which is what Satya has already done and will keep doing, and is what has gotten Microsoft to the 3T market cap.