I just can't see it possible to run anything that relies on the weight of the JVM or relies on external apps (Redis, etc). What web app can live without some sort of a data store (MySQL, PostgreSQL, MongoDB, etc)? Let's not even get into if you need to compile anything. (Even if you're not working in C, compilation is sometimes necessary with gems/npm/etc)
The default answer seems to be just ssh into a dev machine, using the Chromebook as a dumb terminal. While it works, that destroys a classic workflow used by many, relies on Internet access, and adds additional cost (especially if you're a consultant). Even a cheap VPS adds at least $300 a year in cost.
Am I incorrect about running a full dev environment on the Chromebook? I'd love to hear others' experiences.