It would be suicide if they did that, WinSrev. I can't think of any more silly way to go about things than to let each and every browser decide on the standards. Although we can centralise the standards - to which W3C appear to have taken the reigns, there is bound to be inconsistencies across the browsers - that's inevitable.
If we're going to move towards interoperability and expandability as Jay mentioned, then it's imperative that all browsers began to behave the same which resultantly means that we need the
rules centralised as well. That way if there is an update to say the HTML 5, then W3C could
ping each and every browser entity, and then they update their browser software automatically from their servers, and then the updates come through as mandatory. Sort of like:
W3C Update
Mozilla Firefox Update
Clients Update
It's clear from the past 10 years or so that something needs to be changed. You've got the same when you look into networking - IP addresses and running out so they introduce IPv6, but it's going to be years and years before we witness IPv6 become the standard. Whereas on the IP address side of matters, it's rather difficult to centralise the rules, but for the HTML/XHTML/CSS and JS stuff - dead easy if only it was planned out. Don't make me fetch my pen and paper!