This is going to be a huge change. Apparently, the Android team has decided to not ship any pre-loaded browser with the Android 4.4+. The WebView would be there, but the OEM manufacturers would have to manage a default browser on their own.
Developer Maximiliano Firtman (@firt) shared this information on Twitter, and claims to have the official confirmation.
Vendors can either create a browser app using the WebView or get license from Google to pre-install Chrome on their devices. Alternatively, they can ship a third-party browser like MoboTap’s Dolphin, Opera (which is based on Chrome) or Mozilla’s Firefox.
The Android platform has various awesome web browsers, thanks to its open ecosystem. And thus, this change should not have any major issue. Moreover, the users can always install Chrome from the Google Play store.