From what I know (someone correct me if I'm wrong) Pi/Earendil is VC-backed so it's just a matter of time really. I don't see any other end game for them as a company other than being acqui-hired. In this regard I have more faith in something like Zed (the code editor, VC-backed too) to retain their "independence".

Pi is alright but it's only virtue so far is being the Neovim of harnesses, minimal yet (incredibly) extensible. That being said it's still early days and unclear how the whole landscape regarding agentic stuff will play out at various different levels. For example I prefer stuff like Claude Code and Pi but I've seen a friend use Kiro at work with some crazy workflows all basically structured around Markdown files, spec writing, ingesting tickets from Jira and then validating/testing the code written automagically.