Google is preparing to let you run Linux apps on Android, just like Chrome OS

Try Termux, it's great.

While it doesn't get you sudo, it does get you a package manager and a decent amount of programs.

I use it and rclone to sync my cell phone's photos to a S3 bucket.

Last I looked you could pretty easily get root on many phones, just if you did you couldn't use stuff that checks the device security

If you want to carry two phones you could use one for banks and 2 factor authentication, and have root on the other

Terminal applications only?

As a first step definitively, simply because such a feature needs to start somewhere and text mode is easier than writing a wrapper for graphics systems.

Or does that make me able to run LibreOffice, Kdenlive and whatever I like?

I'm thinking that this is the end goal. Google struggles to get desktop-like apps onto Android tablets. Many people use iPads as primary work computer these days. My employer is switching to them and we're late to the party.

An audacious step for Google would be to distribute Flatpaks in the Play Store. That's very unlikely but it's technically a possibility.

Also, Steam integrating an x86 emulator for ARM devices makes even more sense now. I thought it's mainly for ARM Chromebooks but Android tablets getting an "Install Steam" button and becoming more compatible to games than Windows on ARM would be so bonkers.

Why not NewPipe?