If you follow the rest of that paragraph, my meaning may be clearer: there's a market for what they do right now — the OpenAI financial reports that have been bandied around say that if they were only offering this as a paid service, not also developing new models, they'd be making a profit — but it's not obvious how this will change going forward.

The first spreadsheets were easy to market: here's a solution to your problem, give us money and you can have this solution. But as time goes on, you need more than the original solution, because that's too easy to replicate.

ChatGPT was easy to replicate, and has been replicated.

The "needing more" to stay in the game is what I meant by the Red Queen race. What exists now is fine, it's a good fit, but the question of the long-term is still open.