An Apple-developed LLM would likely be worse than SOTA, even if they dumped billions on compute. They'll never attract as much talent as the others, especially given how poorly their AI org was run (reportedly). The weird secrecy will be a turnoff. The culture is worse and more bureaucratic. The past decade has shown that Apple is unwilling to fix these things. So I'm glad Apple was forced to overcome their Not-Invented-Here syndrome/handicap in this case.
Reportedly, Meta is paying top AI talent up to $300M for a 4 year contract. As much as I'm in favor of paying engineers well, I don't think salaries like this (unless they are across the board for the company, which they are of course not) are healthy for the company long term (cf. Anthony Levandowski, who got money thrown after him by Google, only to rip them off).
So I'm glad Apple is not trying to get too much into a bidding war. As for how well orgs are run, Meta has its issues as well (cf the fiasco with its eponymous product), while Google steadily seems to erode its core products.
Apple might have gotten very lucky here ... the money might be in finding uses, and selling physical products rather than burning piles of cash training models that are SOTA for 5 minutes before being yet another model in a crowded field.
My money is still on Apple and Google to be the winners from LLMs.