Google Chrome is a web browser. (OK. That's not the confusing part.)
The biggest complaint about Chrome is that it is limited to the functionality of a browser. As more and more software moves to the Cloud, this is becoming less of an issue for most people who don't require specialized software.
For example, you're never going to edit a Hollywood movie in a browser. But then again, you're probably never going to edit a Hollywood movie ... ever!
In addition to apps that require an internet connection, Google has built many apps to run offline. This is especially true for the core Google apps such as mail, docs, spreadsheets, presentations, etc.
But Google took things one step further when they moved the exclusive Chrome OS experience to the desktop of Mac and Windows users with Chrome Packaged Apps. These apps run offline, work like native apps, and sync seamlessly with the web.
You should really give them a try!
The packaged apps I use (almost) every day on my Macbook Pro are:
Here is a quick link to browse the packaged apps available today: http://goo.gl/dBevS5