I'm much more okay with Safari's implementation, because it's significantly more discoverable. Safari also makes it much simpler to disable this behavior altogether, with it earning a place in the settings ... rather than being behind some "flag" that may disappear in some future release.

Chrome doesn't show on click. You have to double click. Safari also shows the URL when you use the Keyboard shortcut CMD+L, Chrome does not.

This is part of the reason I don't use safari for much of anything if I don't have to.