It seems like the Angular Material team plans to collaborate with the MDC team:
High level stuff planned for Q4 2018 (October - Dec):
- Improve our own build and automation tooling
- Fix bugs and reduce some technical debt inside Google
- Working on long-term plans on how to collaborate with the MDC Web team
- Designs for advanced table improvements (column resize, selection directives, inline-edit)
(README)
This has been added to the readme about 20 days ago (Oct 10, 2018).
So chances are, that in future Angular Material is just some kind of Angular wrapper or Angular implementation of the MDC for Web.