iPad is not a thin client or dumb terminal.
I think you missed the blatant sarcasm... I just think all of these "professional analysts" (read: paid shills) that proclaim 'The end of the PC is near!!!!!' every time someone releases a new computer is tiresome.
You don't need to be a "professional analyst" to understand the implications of ChromeOS. I'll remind you that ChromeOS is a pure "web OS" that does not use local storage (except for storing the OS itself). It's a "smart" terminal for all practical purposes. If consumers bought into this technology, this would clearly be the end of personal computing.
Highly demanded web OS technology would also have several secondary effects, such as the increased cost of PC hardware (particularly storage).
I have faith that consumers will not buy into this. The Cloud, for all its convenience, isn't well suited to this kind of computing.