As John Gruber says, this makes very little sense: Google is dropping h.264 support from Chrome:
Specifically, we are supporting the WebM (VP8) and Theora video codecs, and will consider adding support for other high-quality open codecs in the future. Though H.264 plays an important role in video, as our goal is to enable open innovation, support for the codec will be removed and our resources directed towards completely open codec technologies.
Umm, yeah - and you still support Flash because...... .
Update: A commenter on Facebook notes that this could easily be a scare over patent issues surrounding H.264. There are many patent trolls out there....