Their technology can be easily replicated given enough time, just look at open source LLMs already beating GPT3. Google, Claude and others showing their strengths, already par to GPT-4 and even better in some scenarios.
Training is expensive, but it isn't expensive up to what they are valued at.
It's good because that capital likely made a few folks rich enough that they can consider pursuing their own companies, I'm curious about this.
I find it hard to believe the current products OpenAI offers will have good revenue streams given to how competition is catching up, low pricing power and how specialized deep learning typically beats LLMs or most of the things they offer.
I had even higher expectations when I saw this beginning, hoping that AI Startups would be able to do things that were previously not scalable with LLMs or OpenAI APIs, but haven't been able to see much here.
The biggest winner on this play was clearly Microsoft, that managed to create a new product line, both with Github Copilot and Copilot to sell to businesses.