SOC2 is quite a racket on its own so I'm not surprised to read this industry creates players like this.
I hope that with LLMs, answering security questionnaires will be much less time consuming for companies and less would opt out to get a full blown SOC2 cert. But it will probably play the other way.
They had quite a few release in the last year so it's not dead that's for sure, but unclear how many new customers they are able to sign up. And with IBM in charge, it's also unclear at what moment they will loose interest.