The problem is not Google owning Youtube. The problem is Google owning a majority of internet real-estate and a web-browser.

Now they can bypass any W3C standards-comittee and launch whatever they want in production websites and their own browser at the same time, much like Microsoft did. They already have their own Googley version of ActiveX out there! It will be fun to see what's next! /s

Google Chrome is the worst thing which has happened to the modern web.