This is a feature that Firefox and Safari already use, albeit apparently in a somewhat different way. I tried comparing Chrome and Firefox in a normal desktop comparison, checking the load times on several sites in succession in the same way as videos on Google's developer blog. Firefox may have outperformed Chrome in these tests, but not enough for me to feel comfortable declaring it to be a winner, and it did not produce the same behavior as Chrome did for Google. The instant load of the previous page due to bfcache does not seem to happen the same way.
These changes could increase RAM usage in Chrome, but Google plans to minimize this with more intelligent rules about when. and how to keep data in RAM while pages are suspended. The goal is to implement the feature throughout 2019 and roll it into shipping Chrome in 2020.
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