This is not a question about writing a web-app Vs a desktop app. It's a question about allowing a bespoke application to run in a browser though use of a custom plugin, effectively using the browser just as your render-window.
QuakeLive does this - it's a C++ application with some extra code to run through a browser. Unity3D and Torque game engines also provide deployment options to do the same thing.
Personally, I'm a bit dubious about the usefulness of such a system. But I'd welcome other opinions on the reasons why this might or might not be a good idea.
Not sure if there's a proper term for this, please edit my tags if there is!