I don't even think it's an issue with their execution. Google just has a moat -- a huge index they won't give to anyone else, developed over nearly three decade

I don't even think it's an issue with their execution. Google just has a moat -- a huge index they won't give to anyone else, developed over nearly three decades, including multiple Internet eras already past -- which would take an inordinate amount of investment (including multiple more decades) to even hope to recreate. Kagi probably won't get there -- in fact it's likely no one else even can get there -- but they're already somewhere and should only continue to get better.