The usefulness of alphafold had been grossly overstated by science media. The structures it generates are mostly nonsense, they typically can't generate molecular dynamics simulation trajectories with the correct physical properties, which makes them not useful for drug discovery. in computational biology today you'll most often find them in use as a starting point for structure refinement or as one of many sources of data for some integrative method. Again, not useless, and an improvement over previous structure prediction algorithms, but they didn't 'solve protein folding' or anything, like Google might have you believe. I don't put much stock in Nobel prizes, I mean, they gave one to Henry Kissinger.

Google also released alphafold 3 under a strict non commercial license, which severely limited its usefulness for both commercial and academic work, the latter of which all but requires using more permissive licenses. I assume Google wanted to monetize a commercial version of it at some point.

I've been using Openfold 3 in some work I've been doing recently, and while the software is a bit undercooked, it does produce structures similar to alphafold 3 without any of Google's bullshit. So I wouldn't worry too much about this announcement. The protein folding will continue with or without them