Seems relevant to me. Requiring a website owner who may have no relationship with Google to enter into a contract with Google in order for their website not to be broken for their users -- I think that's antithetical to the idea of an Open web.

Google is not offering any kind of service for that contract, other than that they won't break exiting functionality for your website, a thing that they have no ownership over. I feel it's problematic for a user to visit a website and essentially get told "the site will no longer work for you because the owner wouldn't sign our TOS."

TLDR, I don't like the philosophy that a website operator needs to get Google's permission for their site to work in Chrome.