Despite the quippy headline, this unfortunately isn't just about Java and there are a couple of problems with Google's heavy-handed approach here:
1) Tons of widely used plugins use the API and do not have alternative implementations; and
2) Google does not offer a good drop-in replacement. The only alternative is to use the Chrome-specific NaCl API (Edit: and PPAPI) or HTML5 extensions with limited browser support.
Those among us who depend on plugins that are now abandoned are faced with one of two long-term choices:
a) switch to another browser for everything; or
b) switch to another browser for just the tasks that require a plugin.
Either way, weaning users off Chrome cannot possibly be a good direction for Google. I figure they've already done the math (they're very smart people) and come up with what is an acceptable loss of market share, but I'm a little disappointed how they went about this.
On the other hand, the plugin creators (Oracle and Citrix, I'm looking at you) simply suggest we switch away from Chrome instead of trying to fix the problem Google is trying to address here: the NPAPI sucks and is insecure.