Exactly. In truth, there is nothing preventing you from playing Crysis (other than a terrible response time and a poor quality video stream) on this with nothing else but this and a wireless keyboard/mouse. This is the true dumb terminal. The developers SDK is probably more about connecting devices or having them communicate with the chromecast rather than being an app repository.
The more I think about it, the more I hope this is where they going with this. To borrow a very damaged phrase, this might as much about the cloud/virtual computing as it is about streaming and music.