This is good news!
Obviously a site like this one would not be something you'd want to view on your big screen in the living room... but, web video content is actually something people want on their consoles.
Currently, the Xbox360 and PS3 are limited to a handful of dedicated apps for their ability to stream video from the web. Hulu Plus, Netflix, and Youtube apps, among others (like Amazon, Vudu, etc etc). But, what about the rest of the web? The Xbox360 currently has no browser, and the PS3 browser isn't usable. Meaning, tough luck.
As a side effect, if Microsoft puts out a decent browser it might force Sony to do the same.