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Now more than ever, ChromeOS is Linux with Google’s desktop environment
(www.aboutchromebooks.com)
From Wikipedia, the free encyclopedia
Linux is a family of open source Unix-like operating systems based on the Linux kernel, an operating system kernel first released on September 17, 1991 by Linus Torvalds. Linux is typically packaged in a Linux distribution (or distro for short).
Distributions include the Linux kernel and supporting system software and libraries, many of which are provided by the GNU Project. Many Linux distributions use the word "Linux" in their name, but the Free Software Foundation uses the name GNU/Linux to emphasize the importance of GNU software, causing some controversy.
Community icon by Alpár-Etele Méder, licensed under CC BY 3.0
As someone who has owned a Chromebook for several years, I can tell you that you shouldn't. Hardware wise it's hard to beat Chromebooks at their price points, but the complete lack of control over the system is a deal breaker. I don't have time to list all of the issues I've had. In many cases what would have been trivial fixes on a normal Linux system required full reinstalls on chromeOS. Like the time I accidentally filled up the fairly modest system storage. The system refused to allow me to delete anything, requiring a reset just to get local file management abilities back.
I ultimately ended up installing full Linux on it, which ended up being a whole other ordeal due to all of Google's "security" features.
Do you have to jailbreak the hardware to install another OS or is it supported?
There are 2 ways to do it, either via depthboot(software only, no custom firmware, lots of manual OS prep, 0 risk) or custom firmware(maybe physical, model dependant, no os prep, small risk). For custom firmware you usually have to either bridge an internal jumper, unplug the battery, or build a custom cable, depending on your model.
While it is allowed it's not supported by google.
I would never recommend buying a Chromebook with the intention of replacing the OS unless you're looking for a project or you're getting it for cheap.
TLDR it's harder to replace the OS on a Chromebook than a Mac, and you get none of the benefits of Mac hardware.