From a review with an eng on the material team.

In the gallery, go into the Text Input demo. When you tap into a field, notice how the tooltip in the field (e.g. "Name") immediately switches to blue and smaller, and then animates up.

Instead, the text "Name" should smoothly animate up, and smoothly change to blue, and smoothly shrink in size.

The final resting place of "Name" is correct.