That's not the point. With the built-in encoder, people create movies which they make money from. Now, Youtube recodes those when you upload them, however, the "original" movie was created on a Mac. And apparently the license states you can't profit from making H264 videos on OS X.

Whether this is something people could actually get sued for is doubtful. On the other hand, I wouldn't be surprised if some shady company who is nominally a member of the consortium chose to go after the more successful Youtubers. At the very least it's something a consortium company could use to take down videos they don't like.