Agree it is disappointing after finally getting years of one messaging solution from Google. As the other questions here show it's important to understand what CTAs/options belong to what service ... always confusing. But the CHAT icon and messaging CTAs in the Profile are going away at the end of July.
My personal speculation is that this news, combined with the call history, and other items, lead me to believe that a bigger and centralized AI solution is coming. Something that powers calls, chat/messages, etc. I find it hard to think they don't want to get more conversion/transaction share and data. We'll see what happens.