After the acquisition, I think Wiz would have to only focus on Google Cloud which might be a major limiting factor in the company's future. But other than that, It surprises me that, a $23B offer is rejected from the perspective of Employees. IPO won't provide the same level of liquidity opportunities.

I have used Octa and it's a decent platform, not a magical one. Creating a similar platform for Google Cloud should be feasible with the level of Google resources.