That is one beautiful laptop (note that it's not 16:9 either). I feel like we're missing something, there's no way Google would be blind enough to build such a powerful machine (vs existing Chromebooks) that's so limited by the OS. There's either something we aren't being told or Google's jumped entirely off the deep end.
(Alternative: there's no way they could do a "Retina" Chromebook for reasonably cheap, but the Nexus 10 would seem to disprove that)
It's not really limiting though. Between NaCl and WebGL you can do everything from 3D gaming, to Remote Desktop clients (an RDP client already is in the Web Store). It's true that a lot of the software still needs to be created, but what is going to spur that to happen if not hardware that is tuned for it?
You can't build for NaCl from CrOS, and as it stands you don't have the toolchain (editors, debuggers, shells, etc) one's used to on other platforms. I understand a $400 phone not being able to run it's own toolchain, a $1300 computer less so.