Yeah, but it baffles me as to why they would do that. For the average user, it has got to be a step backwards, because they are going to be a lot more confused about why the settings button isn't available at times, and why it keeps moving all over the place. From a usability perspective, it just doesn't make much sense to me.
Still, it's better than not having any settings button as on IOS. I've lost count of the number of times I've been itching to hit a menu button on my iPad, only to remember that I can't...and then getting annoyed that I have to go to a separate "Settings" app to change browser or other app settings.