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Haven’t looked at Chromebooks in a while, but you are right that the use case would be similar.
However I was under the impression that they are mostly competing at a lower price point. So I assume you wouldn’t find nice build quality or screens.
Beyond that I am not really familiar with how chromeOS stacks up nowadays or if it would be trivial to install Linux/windows on them. Especially if they still have EOL dates after which they aren’t updated with software anymore.
A quick search tells me that Google seems to work on a laptop and plans to merge (?) android and chromeOS more.
So overall again products that share some aspects of what the MacBook Air makes attractive, but doesn’t offer the full package.
As someone else already answered it is of course not ideal for movie consumption, since it gives you black bars top/bottom, but for productivity it is really nice. Everything from writing, spreadsheets or reading on the Internet benefits from it. Reading long horizontal sentences isn’t that comfortable and often times task bars at the top and/or bottom take away some extra space. So a typical 16:9 display ends up offering very little useful working space. The taller aspect ratio isn’t a massive shift, but a nice quality of life improvement.
It also means that you have slightly more space for the keyboard or a larger track pad.
If you are ever in a retail shop that carries Microsoft 's surface laptops you could check them out, as they are one of the few laptops that use a 3:2 aspect ratio display.