No Im not describing a race to the bottom. Im saying that its in Google's best interest to ensure Anthropic and OAI do not continue to operate as a going concern and generate enough cash flows to finance reinvestment - by providing a very competitive offering.
Price of tokens is one competitive-instrument for them to achieve that but not the only one - they offer a whole lot more to enterprises that OAI and Anthropic don't.
By doing so Anthropic and OAI's valuations go crashing into the ground along with future prospects of raising funding externally.