Google needs to stop thinking they are Apple and charging as such. Heck, I don't even think Microsoft charges as much as Google does for some of its surfaces and you can do way more with a surface.
The hardware itself is really nice but you're right concerning functionality. Chrome OS just doesn't stack up fully to Mac OS, Windows, or even iOS. Yes, I'm aware of some of the advantages available on a Chromebook vs. iOS but the overwhelming majority of people aren't going to touch Linux and Android apps still just feel like tacked on afterthoughts in so many instances. The entire experience just feels disjointed. Lack of any sort of biometrics also makes it less user friendly--just having to manually type my 1Password master password so damn often is driving me nuts.
There is a lot I like about the Pixelbook but those primarily surround the hardware itself (terrific keyboard, great display once you look past the huge bezels, very nice trackpad, super light device). I'm just not sold on Chrome OS yet. I'm keeping my Pixelbook but it's going to be primarily a family device (one big upside of Chrome OS is how flexible it is for multiple users). I'm going back to an iPP 12.9 (found insanely good deal) for most of my everyday work, with my iMac for my full desktop needs.