The Android devs mentioned this themselves in the very first comment on the bug about turning on GPU acceleration[1]. But the internet decided that GPU acceleration was the silver bullet, and now it's been turned on they're surprised that it's not.

And this is somehow further evidence of Google's incompetence (and/or lack of taste) rather than just the obvious result of a bunch of engineering tradeoffs that, if you look at Android marketshare and Google's resultant influence on the future of the web, seem to have worked out quite well for them.

[1] http://code.google.com/p/android/issues/detail?id=6914#c1