Ersei, the developer behind this so-called Cloud Native Computer, says the project was primarily a “silly” pursuit. There is also a problem with booting from Google Drive currently being very slow. However, the dev also boasts that “the possibilities are endless” and would welcome any companies or individuals who wish to get in contact and discuss commercializing this project or something related to it.
I’d argue it’s a bit worse than PXE booting, since they talk about having the actual bootloader on a USB stick, whereas the same thing could have been done by having the boot process remote too.