This is an old and well-starred bug unfortunately closed for discussion.
It's not available for what I think is a poor reason, spelled out in a recent bug report.
> Today we don't have a Linux GPU decode owner, so we have chosen not to activate something which we have no one to support and may have to break arbitrarily in the future for ChromeOS.
This should be an unsupported option at least, for users who choose to ignore the GPU blacklist. For Intel hardware, it could be made default today I'm sure. With 4K added to YT recently, it's necessary.