Obviously not great for many product types. You wouldn't want to build a product off of this, knowing that a user might not have Chrome. But for internal enterprise stuff, or community-built tooling - I can imagine this is quite useful, and downloading a 3MB binary is a whole lot better than downloading a 300MB for the same program.
I would love to see this work alongside Electron, where you can provide two download buttons for your app. One if a user has chrome already (3MB) and another if they don't (300MB).
Of course the API and model differences between the two would be hard to solve, and require another level of abstraction.
One time, there was some BeagleBone tutorial that recommended using a Windows version of dd that is implemented as an Electron app. It was 200MB. For dd. Not great. At least this uses the Chrome you already have installed.
That said, I generally agree that requiring Chrome to run an app is not great.
It is hard to justify the development effort for that, though, so this is the compromise. An app these days ideally supports Windows, Linux, MacOS, Android, iPhone, and the web... and that requires a lot of software engineers. Being able to write the bulk of the code once is appealing. But to the end user... they can tell that shortcuts were taken.
Maybe we were special, the lasts of a dying breed.