They do have some storage, sure, but it's there mostly to bootstrap for online operation. I have been running diskless nodes for some time (no storage media at all, netboot all the way), and IMHO we're getting to the point where it could be practical to do that even with a Chromebook.
Got it. Yeah the idea of a no local storage world sounds interesting. Haven't taken the time to sit down to think about what that implies, like what can we build in that world that couldn't have existed otherwise.