Google hosting user's video content for free

Google have released a video upload program which will allow (PC users at the moment) users to upload their videos to be stored on the Google webspace. Will Google become a free hosting site for creative content, similar to www.archive.org? Interesting times ahead.

" Our mission is to organize the world's information and make it universally accessible and useful. Currently, Google Video lets you search a growing archive of televised content -- everything from sports events to dinosaur documentaries to news programs. In addition to televised content, we're now accepting video from anyone who wants to upload content to us. Uploaded content will not be immediately available to users searching Google Video as this is just the submission stage of the program. But (if you'll pardon the pun) stay tuned. " read through the Google video FAQ for more details @ https://upload.video.google.com/video_faq.html