I think you fall into the exact opposite target demographic that Google is going after with their chrome OS. I think you also fail to realize that chrome OS isn't looking for 100% market saturation, or anywhere near it. Of course their system isn't designed to replace computers for resource intensive applications. Also, why should they stop producing an OS when it does what it was designed to do well and fits the bill for a section of the market? They're not forcing you to buy it.
According to all the latest reports, there was no truth in any of the earlier reports.