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I don't think it flopped. On the contrary, it did something very good and important for Google: Javascript speed.

An interesting sequence of events

1) Google relies on web apps. Faster javascript is a must if they want to build more complex things;
2) They release a browser that is blazing fast with javascript
3) All other competitors focus on better js performance, increasing it significantly
4) Chrome has 1% of the market share but because of it, the other 99% will get the js speed boost that google needs in order for users to runs its apps faster

Chrome's mission is a success. Google got what they wanted and I bet they will used it again in the future to heat up competition and push the development of a feature of the browsers.