Yes. And then the private AI will quickly lag behind as the open-source AI is continuously updated.

Even if the private AI owner made some unique discovery which gives them an advantage, its very likely to only be unique for a short while (see: some of the world’s major discoveries simultaneously found by different people. I’m sure there would be more if not for word-of-mouth)

For most of these LLMs, the challenge isn't really the code, it's the compute cost.

The compute cost is a challenge for amateurs and Europeans. In United States, investors will throw frankly quite ludicrous amounts of money at you if you show promise.