I just played around with this and AFAICT the blocker seems to be the absence of a browserify compatible streams2 implementation (though there could be one I've not found?).
The other option of course is to add v0.8 support & rewrite levelgraph to use through instead of streams2.
Can you tell me if that interpretation is right?
Your intepretation is totally right. Maybe some guys of the browserify crew can help giving directions. Maybe @juliangruber might help :).
You might also need a ES5 shim for some bad browser out there, as I am depending on forEach, map, filter and so on.