Sure, go ahead. Extensions in a URL have little to do with the actual type of content, and .html has long been abandoned by dynamic systems, who originally went to extensions being an implementation detail, and on many current systems being a lie (e.g. the .aspx extension that actually runs a PHP page that returns an HTML5 file).
They're using a URL extension to signal to their system what to do with the file, which in the case of GIFV is to wrap an MP4 video in a simple HTML5 container. Eh.