At the same time now you have a way to say "When I say HTML 5 I refer to these features, at least". Without a spec fixed in stone it is hard to say "I want to use a browser that does HTML 5".
Without fixed specs we are currently regressing to pre-2000 sites "optimized for" a certain browser; "Sorry, this site works only with Chrome" is a common sight on Show HN submissions, but also on sites for a more common audience. With the comeback of something that resemble a fixed spec, let's call it a snapshot spec, this situation may get better, or, at least, not get worse.
But it is my duty as a web developer to ensure the features i use will be available widely , i dont want to get trapped into this on that plateform , while other major browsers will never implement some "innovative" features.
So innovation if you want, but i care only about stability.