I hate to admit it but he might be right. After reading x264 developer's post about VP8, it's painfully clear that so many features in video encoders are patented that producing excellent open-source video encoder is nearly impossible and requires completely new way of doing compression. According to him, VP8 is copy/pasted features from h264 which makes it a very good candidate for patent lawsuits. Same goes for Theora. Until now there hasn't been much financial interest towards Theora so it's only natural that now when money starts to smell, sharks are getting ready.
Personally I'm going with h264 just for the reason that at least with that I know exactly what I'm getting into and I'm not going to get any surprises. Terms are clear so to speak. If in someday there's a codec that's been PROVEN to be truly patent-free and it's better than h264, than I will most likely to change.
