And Microsoft offered to cover the license free for Mozilla so that the video issue in HTML would be done with. Google has just set back HTML 5 by years.
Additionally the contract for the license has in writting that it will not exceed 10% of current rates at renewal.
Most important of all, WebM is not lawsuit proof, they will get sued and those that use it could be named as well. h.264 is pretty safe because its a very large patents pool. The chances of something coming up from that which isn't covered already is low. WebM on the other hand is just google. And google isn't taking the responsibility for any patent suits so every user of it is at risk.
And for those that say well no one has sued Theora yet, so what. If they ever get popular and some one worth sueing uses it, it will happen. Google has money so you can bet WebM will result in lawsuits.
Simple Solution, browsers support h.264, WebM and Theora, and web sites can decide if they want the best and safest codec h.264 or the risky but politically correct open formats. It is so hard to put support of all 3 into the browsers?