I would give it a little more than one day before judging. You can drag almost any format video to the address on the Google Chrome browser and see what you can see on your computer. The only thing I have found that will not work is sending a DVD signal from the computer to the tv, unless you want to go to the trouble of ripping it first.
It is true that, if you have a Smart tv it is of little help unless you want to project from the smart phone without mirroring the phone.
With the smart phone you can begin Chrome casting a program on Netflix, Amazon, etc. and it will continue to show even if you turn off the smart phone. Once the program begins the Chrome Caster will continue to communicate with your router, even if you shut down the phone.
I paid $25 on Groupon and it is worth it to me for the money, even though I have since bought a Samsung Smart tv.