Ready for web development just as it starts to achieve price parity with a macbook. I'd argue that this is largely a failure of the initial vision of a lightweight OS that can run very well on low cost hardware.
There are many offerings from other company for just a few hundred dollars that run Chrome OS.
But the web development tools likely won't run well on it.
(You can get plenty of power using a now low-cost box of Xeons from two generations ago. Likely not your use case, though.)