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Probably because Google seem to love HTML5 (look at Wave or their new Android/iPhone web based apps).
But certainly they should take the Ogg Theora route, then if it can be pushed back into the HTML5 standard again, we might eventually be able to get Ogg Theora support in IE, and then maybe Ogg Theora and Vorbis support in Windows itself (as MS would probably embed their media player).
twitter writes: "Recent and controversial benchmarks for Windows 7 leave an important question unanswered, "Is it faster than GNU/Linux?" Here, at last, is a benchmark that pits Ubuntu, Vista and Windows 7 against each other on the same modern hardware. From install time to GUI efficiency, Ubuntu beats Windows and is often twice as fast. Where Windows 7 is competitive, the difference is something the average user would not notice. The average GNU/Linux user is now getting better absolute performance from their computer as well as better value than the average Windows user."