The rumour I keep hearing is that it's like the Hunger Games inside Google at the moment. Total chaos and infighting at all levels, investors are freaking out over AI and Bard's middling performance compared to OpenAI and blood is in the water. Sundar may be forced to resign and Larry/Sergei deployed to rescue the company.
Investors are generally the last people you want to go to for advice, but the stock market clearly disagrees with your rumor (was it from blind or reddit?).
To me it's clear search isn't where the exciting LLM stuff is (at least not yet), and this article indicates users feel the same way (+15.8% for Bing, +-0% for Google). Even the hn echo chamber doesn't really care that much about Bing search, they mostly care about Sydney, jailbreaks, etc, which is why the neutering into a better behaved search product pissed people off so much.
ChatGPT plugins, Copilot (X), this is where the interesting stuff is today. Google's late again on that, but a) just barely and b) Google Cloud is already a distant third place. Unlike search, they don't have to beat the world or kill any golden goose to have a win in that space (they just have to actually ship something).