This is the next great upset. Everyone's hair is on fire and it's anybody's ball game.
I wouldn't even count the hyperscalers as certain to emerge victorious. The unit economics of everything and how things are bought and sold might change.
We might have agents that scrub ads from everything and keep our inboxes clean. We might find content of all forms valued at zero, and have no need for social networking and search as they exist today.
And for better or worse, there might be zero moat around any of it.