"If Emacs can't find a way to evolve into (or merge with) Firefox, then Firefox or some other extensible browser is
going to eclipse Emacs. It's just a matter of time. This
wouldn't be a bad thing, per se, but there's a good
chance it would be done poorly, take forever, and wind up being less satisfying than if Emacs were to sprout
Round one to Emacs, then.
Edit: It's a text-mode web browser.