IMHO the buzz is mainly around the UX provided by ChatGPT. Most LLMs are not that easily accessible and most people never get to experience any aha moment with them, so most people don't care. As for Google, I do think there is real but not immediate danger for their business model. The big issue for them is that 60% of their revenue comes from ads in Google search, so rolling out an amazing ChatGPT equivalent could potentially hurt their business. They would have to rethink the entire model. For now and AFAIK, ChatGPT doesn't provide web links so it doesn't feel like it is trying to sell you something. If Google if going to use one of their SOTA LLM and build a conversational AI out of it and make it available for free, surely they have to consider the implications for Alphabet as a whole.