I don't believe they will be able to compete with Google/OpenAI in a direct battle by having a 1:1 LLM product copy but with privacy. The costs are likely too high for an organisation like Proton and their LLM is likely to have significantly subpar output.
Don't get me wrong, I am all for a private, cloud LLM, but I would rather they came up with novel usability features, a better front-end for evaluating sources (and faster identification of errors and hallucinations) and so on.
I am not seeing any of that.