If you think the complaint about google search is that it isn't as good as chatgpt, I think you might be not listening. The problem with google search is that it's worse than it was
But to be ultra-fair, the web is worse today because of the perverse incentives created by Google Search and Google Ads.
Is it possible GP was talking about SEO spam enabled by LLMs like ChatGPT? That's the most charitable read on it I can give it.
Because I can guarantee you my problem with Google Search has nothing to do with chat assistants, and if that is sincerely your position, I'd seriously consider trying to find perspective.
What they have done is given people an alternative to interacting with human knowledge via Google search. It was falling in quality before, but in the general case no one had an alternative (and so it would still generate the same revenues). But ChatGPT is not only a substitute but a superior product, so people actually move to it instead of kvetching about the decline.
To address your concern, yes [low quality content] will still exist but it won't look at all like today's stuff. Too soon to tell.
In periods like these, the British saying applies to users: keep calm and carry on. The American saying: bitchin' ain't switchin'.