They would likely wait till any model performs better than GPT 4 for the same price
Secondly, GPT-4 increased overall AI market. According to all the sources, interviews and leaks, GPT-5 won't be a big leap over GPT-4 as the model size and training data won't be significantly larger. I doubt GPT-5 would do that. (I could be wrong in my assumption though that GPT-5 would just be a incremental gain).
Claude 3 Opus is in the capability ballpark of GPT-4, GPT-3.5 has alternatives that are cheaper (Claude 3 Haiku) or cheaper and work offline (Qwen 1.5, Mixtral, …).
A competitor will likely need to be 10x better than ChatGPT in order to get significant market share, not just marginally better in certain scenarios.
https://web.archive.org/web/20240319224624/https://www.busin...
The other odd thing from Altman was saying that GPT-4 sucks.
I think the context for both announcements is the recent release of Anthropic's Claude-3, which in it's largest "Opus" form beats GPT-4 across the board in benchmarks.
I personally think OpenAI/Altman is a bit scared that any moat/lead they had has disappeared and they are now being out-competed by Anthropic (Claude). Remember that Anthropic as a company was only formed (by core members of the OpenAI LLM team) at the same time as GPT-3 was released, so in same time it took OpenAI to go from GPT-3 to GPT-4, Anthropic have gone from nothing -> Claude-1 -> Claude-2 -> Claude-3 which beats GPT-4 !!
Anthropic have also had quite a bit of success attracting corporate business, quite a bit of which is more long-term in nature (sharing details of expected future model capabilities so that partners can target those).
So, I think OpenAI is running a bit scared, and I'd interpret this non-announcement of some model (4.5 or 5) "coming soonish" to be them just waving the flag and saying "we'll be back on top soon", which they presumably will be, briefly, when their next release(s) do come out. Altman's odd "GPT-4 sucks" statement might be meant to downplay Claude-3 "Opus" which beats it.