It is editable, you just need to use the pencil button. It is an unerstandable choice because it puts forward the most common uses of the address bar and still allows you to edit.

I just hate it because it breaks well established UI conventions. The thing looks like a text field but doesn't act like a text field.

For me it is more of a "stop messing with UI" situation than trying to funnel everything through search. If they wanted to do that, they would have kept the dedicated search button. Early Android phones had that.