From https://www.protocol.com/browser-company > Agrawal decided early on not to try and rebuild the whole browser stack, and based Arc on Chromium like everyone else. Ladybird this ain't. More like YACI (yet another chromium implementation).
Seriously the fact the "I made a chrome wrapper" is apparently worth millions in VC funding remains absurd to me.
The only question is if they can actually make money, and the kind of money that VC investment demands at that. Opera, the browser company had revenue of around $380 million last quarter, but if you don't use their browser, which is also "just" a chrome wrapper, you'd never know it.
To put it another way, Linux distros; Red Hat, Debian, Ubuntu, Arch, etc, are all "just" wrappers around the Linux Kernel. Yet "I made a Linux Kernel wrapper" is worth at least a billion, in the case of Red Hat. If you never come near that distro, you might not even see a reason for its value, but you can't argue with their sales numbers.