I'm sure that they'll just dodge regulations like every other Service as a Software company. Literally taking the money out of the City's hands and providing a slower, less safe, less equitable service. While taking profit too. Sheesh.
I actually live in Portland, and Waymos are going to be a massive improvement over the chronically inattentive, unskilled drivers around here. Waymos aren't glued to their phones at intersections. That, alone, is 70% of all pedestrian crashes caused by human drivers in Portland.
The first two happened to me within the span of a month during the three years that I rode Trimet in Portland.
That part should be worrying; will they need to increase prices significantly when they decide to become profitable?
But more broadly, I agree that Waymo is an improvement over taxis or Uber/Lyft. The comparison to public transit is a complicated and local question (I don't live in Portland and have never ridden TriMet), but in general I think there's a place for both.