It's partly that I think.
It's partly to create a three company cartel under the guise of a safety board that wouldn't have to compete and can become a quasi-governmental outfit to ensure future pivot funding / bail out when the bottom drops out.
It's partly so that the likes of OpenAI can keep the grift going and the venture capital money taps on a bit longer by delaying an IPO that would expose that they don't make any money and probably never will, collapsing the funding.