Seeing how data caps are getting higher, bandwidth speeds are increasing, most people forget that video is becoming if not already the largest bandwidth consumer and that better compression effeciency over time. This will dramatically improve networks and what we will be able to do over them. Imagine being able to do the same thing on a 768k-1.5mb connection in 10 years that we are able to do on a 3-5 mb connection today.
I can see youtube going to this and many people switching to chrome to use youtube. That would be genius to do so.