Because everything's faster text-only.
ChromeLite was an APRIL FOOLS joke, released on April 1, 2011. Feel free to install it for fun - it really does work on most sites - but it was never intended to be complete or serious.
Did you find all of the hidden ASCII art on various sites? Did you figure out the key sequences to trigger additional surprises?
ChromeLite makes the web text-only, just as how the web was originally conceived. Install the extension and then reload any tab to experience it in blazingly fast monochrome text!
You'll find statistics on how many bytes you've saved at the bottom of any page. And to help you cope with the loss of images, ChromeLite decorates the web with some ASCII art (since it compresses so well).
To switch back, click on the Wrench menu and select Tools > Extensions. Under "ChromeLite", click Disable or Uninstall. You'll need to reload any tabs that ChromeLite modified to restore their original formatting. If you find unlabeled images or buttons, you can report them to the website author as accessibility bugs.
For more information on this extension, read more on the Chromium blog: http://blog.chromium.org/2011/04/taking-chrome-to-lite-speeds.html