Isn't that because Chrome refuses to add the DRM netflix needs for 1080p content? (I believe it was silverlight)
EDIT: Looking at some stuff, it seems like Netflix might "trust" a first-party browser to select the highest-quality stream that it has hardware video decode support for. In comparison, it sounds like there are extensions that enable 1080p in Chrome by pushing it into the list of playlist options, but it can cause a serious performance hit by decoding on the CPU.