It still can be a Google killer even if Google comes up with something better because Google makes its money from sending people to the highest bidder. So far there's no clear path to make money from ChatGPT, let alone match the sum Google is making from Search.
If this new paradigm dominates the way people use computers and it's not as profitable as Search, Google might indeed have to scale back.
Can they? Google made $162B from search ads last year, to match that with the leaked $40/month subscription you will need 340 million subscribers. Can they really get 340 million subscribers at $40, which is %50 more than Netflix subscribers at double the price?
If this new paradigm dominates the way people use computers and it's not as profitable as Search, Google might indeed have to scale back.