...Ubuntu's focus largely on refining improvements from 10.04 and Fedora introducing major changes to the infrastructure
Sometimes I think Ubuntu should use Fedora as its upstream. Fedora is starting to find its niche with the early adopters of new linux technology, and Ubuntu's niche is more in making things user friendly (which is not to say that Fedora isn't user friendly, or that Ubuntu doesn't have cutting-edge tech, just that their focus is different).
Right now, those two goals of user friendliness and new technology are pretty closely aligned, because the linux desktop world is undergoing a lot of development; the best thing to do for users is to get the latest, best technology to them quickly. As things mature, though, those two goals will diverge more and more. It'll be less important for Ubuntu to rev every six months, and the goal of making things easy for users will lead them toward more conservative choices for infrastructure.
Shuttleworth has talked about wanting to coordinate release cycles, but of course it's possible to go further and share very large chunk of the stack, if he wants to.
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