Really? That's your defense? The mobile version of the browser is 100% terrible, so saying "Mobile Chrome does this, that makes it OK" is like saying "it's OK to be racist because Hitler was racist". Truly, I say to you, mobile Chrome is nothing short of terrible. It's browsing engine is OK, but it makes it difficult to delete cache, history, cookies, etc., while providing Google much more data than most of the Android webview-based browsers I've used (my personal favorite is JumpGo).
As for the lack of visual space, maybe Google should consider giving its users an extra toolbar, which could be used to hold the user's addon icons (if said users don't like this toolbar, they should be given the option to close it).