OK... perhaps the headline is a little bit sensationalistic.
But the (accidental) release of Chrome
shows that the world of the web as we know it (and for that matter the world of everything that touches the web) is about to change radically.
To understand Chrome a little better - read this
The more important thing to understand is this... Google has created a browser the is specifically designed to improve the experience of its applications and to allow it to extend those applications in directions that Google finds valuable (and which other browsers currently prohibit).
What does that mean?
Think about it this way...
If you were in management at Google - what is your dream of what Gmail should be like? What would Gcal be like if you were not constrained by the browser? How would Google Docs work if the current constraints of the web were removed?
Make the list.
Figure out what is stopping Google from getting to these goals.
Go look at Chrome.
It's all there.
Making online stateless applications function like desktop apps? Done
Making AJAX and JS based applications as robust and high performance as C++ desktop apps? Done
Eliminating the challenges presented by Flash and Silverlight (blackbox applications and content)? Done
Centralizing data? Done
And they were smart enough to realize that they needed to give the users true reasons for switching (which MS has lost sight of recently). Chrome has a very real value proposition for users - and that's going to result in some massive adoption numbers in sort order. Once that happens... watch Google flex its marketing muscle and its reach to capture market share in the browser space.
This is going to be a battle royale people.