Why should anyone be worried about PSG? Deals of this magnitude take months to close, especially considering the amount of money involved, so there's no point worrying about an entity whose raison d'etre is to earn a return from the management of other people's money.
Because they look like the biggest loser in this deal. Everybody else comes out ahead. In the short term, while password managers are useful, users get a better product, and Bitwarden's employees get paid. In the long term, users don't need this product, Bitwarden's employees find other jobs, and the investors have lost their money.