Will it be a viable business model to offer llama.cpp as a service?

Why would you need it as cpp? Do you mean just llama or specifically a version small enough running on edge?

Do you mean just a non-fine tuned chat bot based on llama 70b? Probably not.

I suspect no.

Short answer, possibly, especially if it was say part of a rag system or some other architecture like that. There is room for more. Nothing particularly special about llama.cpp as the llm back end though. It's optimized for running on lower-end hardware which matters less if you're serving models as a service. But it has many strengths.

Llama.cpp / ggml is the open core of ggml.ai founded by GG and funded by the guy from github, so they have some monetization plan for it.