It is not a direct replacement for search engines, but it will seriously dent their market share.
If you are looking for a location on the internet, use a search engine. LLMs do not memorise the data sources verbatim.
If you want to know how to do something, it will normally give you a better answer than you would find by googling around multiple blogs. No location on the internet needed.
And yet it hallucinates URLs when I ask it to cite its sources. It's still Google search with a little patience for me.