Also have to consider that Adobe wants to keep Flash alive - it's heavy investment from when purchasing Macromedia back in '05 for 3.4B - so even if Flash sucks, they aren't going to let it go easily - they have too much invested in the technology both for the flash players and the authoring software (yes, I know Macromedia had other products like Dreamweaver and such, but Flash was a core, driving product).
What's also interesting - although there is this huge argument going on, and Adobe apparently "dropping" development of Flash for Apple devices (doesn't mention which devices, so that could be the entire Apple line - including OSX); one has to wonder how much Adobe is panicking about HTML5 and just using this fight with Apple as a diversion from their real concerns?