So tldr they are just standing by until everyone else dies? If this is the theory then they HAVE to be doing some serious AI things internally/R&D/in-secret so they're essentially "ready to go" ?
I’m not an insider so I wouldn’t know the specifics.
I guess what's the downside though to getting into the game now and gaining users since they have loads of real cash anyways and a crash wouldn't really hurt them?
No downside. In fact, probably even better to wait another year and buy AI assets for nickels on the dollar instead of dimes on the dollar.