Well what started as a Google attempt to get pie of the emerging Online Video Business pie will now end up on same platform as Google News , Google Image Search.
Google has admitted that after buying youtube.com it will now make Google Video as Search Centre for all Videos on internet rather than upload and share site.
Google has also linked YouTube (and Google Video) to Orkut
Quoting from Official Google Blog
Over time, Google Video will become even more comprehensive as it evolves into a service where you can search for the world's online video content, irrespective of where it may be hosted.