The reason Flash is being phased out isn't because of Steve Job, or HTML5. It's down to sheer incompetence and a severe lack of understanding regarding the Internet from Adobe.
In its day, Flash was an incredible piece of software. It allowed us to embed games, music and effectively ended the problems of video codecs on the web. It was the go to plugin for anything multimedia.
Quite frankly, I don't know how Adobe has managed to survive as long as it has done. I can only assume that the only thing keeping the company from falling into the ground is Photoshop.
Adobe has no respect for those who choose to design the web with its products, even though I'm willing to bet that nowadays most people who buy it are working with the web in some capacity. They also couldn't care less about code, otherwise they would have seriously revamped Dreamweaver and HomeSite, and would never have even dreamed of coming up with Flash to HTML5 converters or Adobe Muse. Any company that tries to market a $100 a year tool to build terrible, inaccessible, bloated Frankenstein-esque websites using Muse deserves to fail, badly.
I very rarely say this, but I have no confidence in Adobe being able to pull Flash out of the wreckage and turn it into a viable multimedia tool, absolutely none. Unless they get taken over by a Microsoft or a Google I think that the problems reach far further than Flash or PDF. I'm still dreaming of a company that can release a viable Web Design tool that will knock Photoshop off its ill-gained perch and bring Adobe to its knees.
Adobe is screwing over everyone. Flash is Dead, those who have been making a living from it, probably will so for a little while longer until the requests for Flash content become less and less until it's empty. I have sympathy, they should blame Adobe who like countries is greedy.
I agree with a lot of what's been said in this thread, there's no doubting the inept corporate lurching of adobe. But flash is by no means dead.
One of the most popular viral sites of recent times with 10,000,000 likes? Flash. Majority of award winning world class interactive sites on the FWA? Flash too. Recent best selling ios game (yes ios game) machinarium?. Created in flash. Hardly 'dead'. Moving towards creative niches it should always have been restricted too? No doubt. Will it eliminate a lot of mediocre flash use, yes, but it'll just be replaced by a generation of new html5 devs discovering the basics of frame rates and easing for the first time and plastering jiggling,bouncing and blinking all over with jWhatever.
For simple stuff, slideshows, galleries yes it doesn't make much sense to use flash, but there's still a long way to go for html5 to replace flash for advanced use. It doesn't compare for ROI at all in reality. Dev cost is a lot higher because of time spent on making things cross browser compatible, and on programming animation painstakingly for days versus the seconds it takes in flash. Apart from the fact there's loads of stuff you can do in flash that might not be possible in html for another 10 years.
Even if the delivery medium does change for these type of things, the skill set that flash devs have with regards to animation and interaction are still applicable on other delivery platforms. Googles swiffy extension makes it very easy to export straight from flash ide to html5 if you need to.
I agree with EastCoast, With HTML5 and things out now, it'll be less used in small time websites and things like that to make a site a bit fancier etc, but with high impact games and innovatively designed websites, Flash is still around and will still be around..