Sure it does. There's no secret to making boxes, or installing glass windows, or making frozen pizzas, or ordering gravel, or installing breakers, or paving sidewalks. Very very few companies make something that actually sets them apart via a trade secret. And sure, there might be some tricks in those examples but it's not putting anyone out of business via
being accidentally found a year from now in accidentally leaked partial training data.
My last job was Director of IT and I'm absolutely sick and tired of security fear mongering. Turn on MFA for everything. Boom. You are now secured from 99.9999% of attacks. Chat GPT is absolutely the least of my concerns.