Habtom - 7:59 pm on Mar 1, 2012 (gmt 0)
Domain registration, and hosting could've been bought by the website owner who found Godaddy domain+hosting package to be an interesting offer. The developer taking up the project could still be more knowledgeable - in your case, might be the reason they are moving away to a new host as you mentioned.
Hosting at Godaddy, even if you and I consider it as unprofessional, can't be the only clue to what they've in the works.
Having just one strong competitor in SERPs might not be that much of a bad thing.