"Currently, there are countless devices used to record videos and hundreds of different video file formats."
H.264 is by far the most common. I don't know of any video camera or DSLR that records to WebM or Theora.
"certain web browsers that you use to view video online only accept certain ‘codecs’ - or programs used to encode, transmit and playback video files - and others require plug-ins (converters) to integrate the video file with the browser."
"Certain web browsers"? Chrome and Firefox are the only ones that don't support H.264 natively. To view video on those browsers, it needs to be routed through a plug-in like Flash (standard on Chrome) or QuickTime. Browsers like Internet Explorer and Safari support the majority of all web video, right out of the box, no plug-ins needed. On mobile devices, the situation is even more obvious. Android is the only OS with support for WebM, and no mobile devices have hardware acceleration for WebM, draining your device's battery in no-time. However, all modern smartphones and tablets have support for H.264, most of them with hardware acceleration.
I'm all for an open source alternative to H.264. If it's at least as good and free to use, then I hope that it will become the standard; for the web, in desktop operating systems, for mobile devices, for video cameras and DSLRs. I'm just not convinced WebM is that alternative. It's unclear whether WebM is as good as H.264, and it's unclear whether it's free to use.