The frontier will probably keep moving for a while, but it will be increasingly disconnected from normal human use. In the future, if you're not trying to solve a research level math problem, you'll probably do it locally and fully privately. Which also means the payday when they will fundamentally no longer be able to reach a billion users with frontier models will come soon for the labs. Even if they do get their IPO out, it will probably crash and burn at current valuations.