It's the same in all google apps EULA so if you using gmail, google docs or blogger don't get on your high horse just yet. Google apologised for EULA and is amending it already.
Chrome is not based on Firefox at all, it uses Webkit - rendering engine used in Safari. Java engine is new and not based on Firefox at all.
Chrome is fast, very fast, probably fastest browser on the market but it lacks plugins, addons, themes, things that made fox great. At present you can't block ads in Chrome like you can in fox (Adblock) and probably you never will, since ads is what stuffs google pockets.
If google makes it open platform like fox and lets for addons and plugins it's a win, if they keep it closed like it is now, hopefully someone will pick their code and make Firechrome out of it, if not - geeks will stick with fox due to its open platform character.
Post typed in Chrome
