How to re-enable proper full screen mode in chrome with display of toolbar on hover on macos?

I have a solution for this!

As mentioned in the comment above you can enter chrome://flags/#views-browser-windows It will show you a list of flags and a search field. Just search for toolbar and enable "Immersive fullscreen toolbar".

Figured it out and wanted to create a question for posterity.

Disable the flag - chrome://flags/#views-browser-windows Enable the flag - chrome://flags/#enable-fullscreen-toolbar-reveal

Go to View Menu and uncheck - Always show Toolbar in Full Screen

You will need to relaunch chrome to see the required functionality enabled again.

P.S.: This also brings back old chrome look without the round edges.

Answer taken from this thread created specifically to fix this issue on google help forums for chrome

edit: this solution is dead on newer versions of chrome(70+) as the required flags have been removed. the chrome devs really don't care about regressions in UI i guess