Exactly. Having recently switched from Chrome to Firefox, I'm puzzled by language such as "Google is thinking about killing the URL". Nope, still featured prominently in my address bar, protocol and all, and Google has zero say about whether it stays that way.
When we hand Google a browser monopoly, we hand them de facto authority over everything related to the web.
It will effectively be up to a single for-profit entity with questionable-at-best motives how we see the web in fundamental ways.
That's not to say the work they're doing here is bad. Might be good. And it's a long ways from production. But that's besides the point.