Google is renaming that keyboard button on Chromebooks that lives just above the left shift and below tab. And nope, it's not "caps lock." On Chromebooks, it was previously called the Search or Launcher button, but now Google is rebranding it as the Everything Button and changing other shortcuts to make better use of it.
The news comes courtesy of a low-key announcement made to Google's Chromebook Community forums, which claims the new name was selected based on "user feedback" to better highlight what the key does.
For the unfamiliar, Chromebooks don't actually have a dedicated caps lock button. That functionality is still there, just changed to a separate key combination. Instead, the key in that place functions to trigger a search or access the launcher. Considering how infrequently most of us use the caps lock key (including me, and I type/write literally every day), reassigning it for something better is actually pretty smart — though arguably, it's doing the same thing a win key would, and most Chromebooks give that up in favor of gigantic ctrl and alt keys. And these aren't the only changes to Chromebook keyboards; some models have a dedicated Google Assistant keys, and they also eschew the function keys on the top row of most laptops for other (more useful) commands.
The standard Chromebook keyboard layout.
In the announcement, Google notes that you'll still see references to "Launcher" in Chrome OS, but seemingly separately from the Launcher key, which is now the Everything Button. We've also spotted some recent changes in the Chromium Gerrit that indicate more keyboard shortcuts might make use of the Everything Button in the future, so this is a consistent change that Google is promoting, though it might break some shortcuts you otherwise rely on, like alt-click.