If I recall correctly, Google still contributes to Firefox - and I don't see how much more they're profiting by releasing Chrome when anything that they stand to gain is gone the minute their work is turned into things like Iron thanks to a BSD-type license. The biggest advantage seems to be speed (although at the expense of memory usage) and their rendering advantage is certainly nontrivial, nonunique, and far from 'not motivated by any desire to innovate' - it seems that IE has far more to fear than Firefox, and Chrome can really help to push out the IE6 bullshit that has been making the Internet more dangerous, icky, and vulnerable since it was released. I'm still partial to lynx, so I can't say much on Firefox looking better than Chrome, but I really don't see where the bulk of that complaint is based.
The setup I'm currently using is Firefox for anything that I want 'safe' - email and the like - and Chrome for the stuff that couldn't give any information about me that isn't already known. Anyone who claims to be concerned about privacy and isn't using GPG to encrypt and sign their email can have a nice, big bowl of "fuck right off, you clueless ass" regardless of ISP and email provider; anyone who can't see 'obsessive-compulsive graduate mathematics student' and guess 'checks comics like XKCD, SMBC, and Achewood regularly between 24-hour Wikipedia and Planetmath binges' needs all the help they can get in this economy.
Jeff