I don't know.. what if every app suddenly becomes 200MB bigger and devs throw Chrome instances in just about everything? They could bring electron to iOS and make an app that's not even native. Not to mention it would be objectively worse from a tracking/privacy point of view. Chrome has never been on the side of user privacy and I'm scared that continues with its introduction to iOS.
I think providing more choice will help Apple stay competitive though. If that happens, then users will find Apple's native browser/apps to be faster. A win for customers overall and insurance for Apple to not drop the ball!
As far as tracking/privacy, I suspect Apple's next move would be to provide greater restriction of your device information and browsing information secure (another win for customers that isn't really granularly provided today).