New Netscape = Firefox / IE shotgun wedding?

BoingBoing reader boogah says,
Apparently Netscape isn't totally dead - AOL outsourced development of a new browser based on Firefox to Canadian firm Mercurial Communications. Normally I'd applaud something like this. Getting Firefox into the hands of the many is a good thing... But the fact that they're going to allow the user to switch their rendering engine from Mozilla developed Gecko to Internet Explorer's rendering engine seems a bit sinister. BTW: Ugly screenshots are available here.