I think Phil is full of shit as to his motivations, it's clearly about money for him. However, going by PGA's behaviour as of late, the competition is already driving player-positive outcomes.
As for the Liv Tour, I think it will evolve over time. Right now they have a limited roster, and they need lots of money to incentivise people to jump ship for a start up, great risk to their careers, hence the giant sums.
Once the roster fills out, I see the offers reducing, but still being more than the PGA, the tour normalising and abandoning the goofier gimmicky things and getting recognised as legitimate and granted points.
Oddly enough, this whole thing reminds me of pro-wrestling where a few companies over the years have tried to go head to head with a monopoly (WWE) immediately rather than grow it organically. Looked a lot like this with WCW in the mid 90's and AEW now.
If the PGA Tour continues to ban Liv Tour players, then the majors will have even more importance. Could be really exciting.