What are the chances that a new search engine or platform can take away significant market share from Google in the next 5-10 years?

I opened a position in Alphabet yesterday for 2,599 a share. At a PE of around 25, it's definitely not a bargain, but I don't think it's overvalued either for a company that is still growing steady, has great free cash flow and margins, and is overall a high quality business.

While they are diversifying their revenue streams, their search engine is still the main part of their business. Is there any realistic chance a rival can take away significant market share in the next 5 years, or the next 10 years? I know it's hard to predict these things as we won't know for sure unless it starts to happen.


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