The only explanation in the post is "the culture of the GIF now trumps the file format. With Project GIFV, Imgur is reimagining the looping GIF video with all the richness it deserves as a key piece of Internet culture." Is the idea just that people want soundless looping HD video, and they're accustomed to uploading GIFs, so Imgur is going to accommodate them by doing the conversions server-side?
I guess this is an explanation, but it's a surprising one. For instance, it doesn't really fit well with the observation that people uploaded GIFs of content that was obviously native video and not connected to internet GIF culture, e.g., sports videos.