When comparing SliTaz vs CloudReady, the Slant community recommends SliTaz for most people. In the question“What are the best Linux distributions for an old machine?” SliTaz is ranked 6th while CloudReady is ranked 45th.
Ranked in these QuestionsQuestion Ranking
Pro Very fast
Pro Can add desktop effects
SliTaz has a feature called "Desktop Effects" which can add shadow or fade effects to windows.
Pro Very customizable
SliTaz is very customizable. You can programatically edit and change anything you want on how the OS looks or behaves.
Pro One of the smallest distributions with desktop GUI
The core liveCD is only 35 megabytes. The boot-from-internet option fits on a floppy.
Pro You can try it via bootable USB
Pro Lightweight and fast
This is basically just Chrome OS which already runs on Cheap chrome books. It works well for web browsing and file storage on low end computers.
Con Install instructions are in French
When first booting SliTaz from a USB or from a Live CD, the installation instructions are in French.
Con Not much variety as to available applications
SliTaz does not have as many applications in its repositories as the bigger distros such as Ubuntu.
Con Limited hardware support
There is a list online of about 100 or so computers that officially support Cloud Ready, but it can also work on a laptop not on that list, results may vary.
Con Only really meant for web browsing
To use the software, you need to have a Google account and log in. Because it's meant for web browsing and researching, you won't find software like Steam, Office, Adobe Photoshop, Aftereffects, etc; or even a 3rd party browser other than Google Chrome.
Although there are plenty of alternative web browser online, and in the Chrome Web Store, which is still supported by Chrome OS.