It actually makes sense, after some thought
My first thought when I started reading was:
"Why the heck would I want something like this??????????"
And indeed, I probably never will.
But then I though of my mom;
All she needs is a way to browse the web, access her web mail (which happens to be gmail) and look at some photos.
So ChromeOS provides all that she needs... without all the the "crapware" provided with the OS (and I already switched her to Linux).
So for her is the ideal solution... it will likely be much safer than it is now, and probably faster, too.
Of course, I need to see what hardware will support it and what will be the pricing, but the idea has indeed a lot of merit!