According to sources all over the 'net (including Zeldman.com), the decision was made by AOL to "cut or will cut the remaining team working on Mozilla in a mass firing and are dismantling what was left of Netscape (they've even pulled the logos off the buildings). Some will remain working on Mozilla during the transition, and will move to other jobs within AOL." (source: Mozillazine)

So, what does this mean for us? Well, while the Mozilla team will no longer be quite as large as before, there will still be developers on the project. This wonderful browser is not going to go away because of this move by AOL. There is enough of a community and core of developers around this browser that it will continue to thrive and be the web-standards champion that is has been to date.

It just won't be a part of Netscape anymore...