Sounds fine to me. They aren't locking you into anything. All their technologies are open and free, it's just that no other companies can offer Google's quality and breadth.
Microsoft rely on their closed source, Google rely on physically owning the servers their services rely on. Will you be able to run your own set of Google services on your own kit, or on a third-party VM host and retain the full functionality of Chrome OS? I doubt that somehow.
Basically, I don't think this has been very thought through.