I think this puts Epic Games, Nintendo, and the whole lot into a very tough spot if this tech takes off.
I don't see how Unreal Engine, with its voluminous and labyrinthine tomes of impenetrable legacy C++ code, survives this. Unreal Engine is a mess, gamers are unhappy about it, and it's a PITA to develop with. I certainly hate working with it.
Innovator's Dilemma fast approaching the entire gaming industry and they don't even see it coming it's happening so fast.
Exciting that building games could become as easy as having the idea itself. I'm imagining something like VRChat or Roblox or Fortnite, but where new things are simply spoken into existence.
It's absolutely terrifying that Google has this much power.