Becoming a separate for-profit company (as opposed to a nonprofit like Mozilla) could result in some really bad things. Chrome-the-company would have to find new sources of revenue; in the process, it would likely increase its tracking, and it might end up selling info to companies other than Google, which at least tends to hoard user data internally. It may also develop even more industry partnerships around things like DRM that aren't in the interest of users.

If Chrome could somehow be forcefully split off into a decently funded nonprofit, I'd be all for it. I'm not sure that anyone but Google could make that happen, though.