A couple other comments touch on the point I want to make, but I feel they don't nail it hard enough: if today you told me you had a website that was 100% technologically identical to Amazon, but you were willing to make slightly less money, you'd still have no products... as a user I'd have no reason to go there, but then without users there is no reason to sell there, so you have a circular bootstrapping issue. That is a moat.
This is very different from OpenAI: if you show me a product that works just as well as ChatGPT but costs less--or which costs the same but works a bit better--I would use it immediately. Hell: people on this website routinely talk about using multiple such services and debate which one is better for various purposes. They kind of want to try to make a moat out of their tools feature, but that is off the path of how most users use the product, and so isn't a useful defense yet.
This is very different from OpenAI: if you show me a product that works just as well as ChatGPT but costs less--or which costs the same but works a bit better--I would use it immediately. Hell: people on this website routinely talk about using multiple such services and debate which one is better for various purposes. They kind of want to try to make a moat out of their tools feature, but that is off the path of how most users use the product, and so isn't a useful defense yet.