Do you think Waymo would be able to compete with Tesla?
Waymo is not a direct competitor with Tesla's main line of business, manufacturing electric vehicles. Waymo is rather a technology company for self-driving cars.
Both Waymo and Tesla are developing self-driving technology. Waymo's technology is advanced and credible. So far as I am aware, Tesla has not offered any self-driving technology to third parties.
It is conceivable that both Tesla and Waymo will seek partnerships with other car companies to provide self-driving technology, or Waymo could go into the car manufacturing business. Then we might talk about competition.