> Hoards of unemployed engineers now have access to 10x coding utilities and are looking for things to do. They will start clawing away at Google products.

No way this is threat to google. For the same reason why the same hordes of engineers did not managed to compete with large companies up to now. And for the same reason they were not producing all that many novel small apps last 10 years.

This is winner takes all economy. Tokens or no tokes, this is not the econony of small competing companies. This is the world of big ones.