Oh my God. I don't have the vocabulary to tell you how much this sickens me. You don't have to do something just because Google does it. Focus on speed instead of shitty non-features that lambda users will find misleading.
No, thank god I don't copy everything Google does. Of course you should focus on speed when doing some external resources, you sometime don't have the means to control how fast something is.
But I agree that you should focus on speed first instead of just placing a progressbar because something is slow.
Agree that it shouldn't be used on every website. I think the use case would be when you are doing heavy processing or waiting for external resources. Not like Medium is using it, when loading a new article with only text.