Sam Altman appears to be trying to rush to use the current hype to create a large capital moat, and Musks low ball/realistic ( take your pick ) offer is trying to interfere with the raising of cash - putting doubt about the hyped valuations in investors minds.
The power of students prepared to pay to cheat at homework, software developers happy to cut and paste and corporates generating slides that nobody reads.
Now obviously they have competition - whether that be Google itself or Deepseek etc and it will be interesting to see how much first mover advantages persists - the product doesn't feel inherently sticky - consumer customers could easily move.
On the other hand if OpenAI manage to crack the corporate market - then that will be much sticker - and here they have a real lead - Microsoft Copilot is based on GPT-4 - and the signs are it's taking off in business - that will be hard to displace.
Look at the size of company that Google built off that same value ( via search rather than summarisation ).
Google annual revenues are in the region of 350 billion - most of that derived, in one way or another, from people wanting to access information/entertainment on the internet.