What about the surely obvious privacy implications? A lot of people on HN are barely trusting Google with their mail, or even their searches - would you trust them with seeing everything on your screen?
Google's successful offerings in search, email, docs, desktop search, Android, and Chromebook suggest that the privacy worries of "a lot of people on HN" aren't very relevant to their bottom-line.
Also, the functionality – complete screen archiving and indexing – could be implemented locally. So, its value can be evaluated separately from the question of whether you'd want the screengrabs/indexes living at Google.
What about the surely obvious privacy implications
What about them?
would you trust them with seeing everything on your screen?
Hell yeah, in an instant, if it meant I had a way of searching everything I'd seen! I'd want a way to turn it off at times ("Incognito mode"), but to me the benefits would be huge.