I think the answer is in the post:
> Although Safari is the first browser to ship a non-joke implementation of text-wrap
(Emphasis mine.) Chrome is using a different algorithm for this, which probably fixes some typographic problems, but defaults to greed most of the time.
Interesting. As far as I can tell, Chrome isn't doing anything different. I can't find any window width where the checkbox makes any difference.
Edit: finally found it, see cousin comment.