Yes. That's how the US court system works.
Google can (and would) file to keep that data private and only the relevant parts would be publicly available.
A core aspect to civil lawsuits is everyone gets to see everyone else's data. It's that way to ensure everything is on the up and up.
A great model – in a world without the Internet and LLMs (or honestly just full text search).
Maybe you misunderstood. The data is required to be retained, but there is no requirement to make it accessible to the opposition. OpenAI already has this data and presumably mines it themselves.
Courts generally require far more data to be retained than shared, even if this ask is much more lopsided.