Adobe is gonna support webm. So having only one format is gonna be possible.
Browsers who supported or were gonna support H264 :
- Safari (5% market share) - IE9 (0% market share right now, probably around 15% in 3 years) - Chrome (around 13 %)
Browsers who supports Webm :
- Firefox (30% market share) - Chrome - IE9 will probably support it via codecs which is better than nothing
The big deal breaker i see is the mobile devices who natively support H264. But as a long term move i can only approve what google is doing.
Also :
> People will add WebM encoding to their already complicated video workflows
Most people video workflow is youtube/vimeo/dailymotion video workflow. All of which seems ready to support webm.