It did spur competition where Google Fiber was announced. The ISPs were tripping over themselves to match Google in those cities.
But as soon as Google announced the demise of Fiber, they mostly put the brakes on those expansions. They may still expand their own fiber initiatives now, but it's nowhere near as fast, and you won't get as cheap 1Gbps fiber as you would've gotten with Google Fiber around.
I have gigabit internet and my house is wired for gig-e. But I agree, it is overkill. Even 4K streaming content is only 15Mbps and I’ve never seen anything in real life come to close to even 100Mbps except for the VPN to my job in the middle of the night, occasionally upload speeds to AWS, and when I’m uhh, downloading Linux ISO’s from bit torrents.
The only advantage I see of gigabit Internet is that it’s uncapped and I could easily host some side web projects from home.
But as soon as Google announced the demise of Fiber, they mostly put the brakes on those expansions. They may still expand their own fiber initiatives now, but it's nowhere near as fast, and you won't get as cheap 1Gbps fiber as you would've gotten with Google Fiber around.