I don't believe that's correct -- from what I can tell, when it's streaming webpages, it is actually only synchronizing two copies of Chrome -- one on the stick, one on your PC. It is not encoding/transmitting a video, as with AirPlay or Miracast.
If anyone has this device, what is CPU usage on the source like when tab-casting?
And now people have published the extension of that, which is that you can cast whole screens and arbitrary content just as video streams - http://www.droid-life.com/2013/07/26/tip-chromecast-can-cast...