This player was developed on 2008, the initial talks on HTML5 started on 2009 and until 2011 the HTML5 logo was introduced, HTML5 as of December 2012, is a W3C Candidate Recommendation as it says on Wikipedia.
So, this is actualy a "If-it-ain't-broke-don't-fix-it" plug-in that just worked well using the original embed code designed for MP4 videos on iOS devices, it even works great on Internet Explorer without Flash if you have QuickTime Installed.
The HTML5 proposal (for that is what it is) is getting serious just recently, FireFox posture to maintain a free video codec and not use the H.264 makes things complicated, Theora and Vorbis are not options that maintain good quality/low bandwidth from my perspective, Safari, Chrome and Internet Explorer will playback H.264/AAC without problem, so...
Which embedded code can be implemented taking into account compatibility and the idea of simplicity that this plug-in want to keep?
I can switch the Apple proprietary embed code into an HTML5 alternative just to be compatible with Android, but would not be compatible with FireFox.