Adobe announced they're declining support for Flash and are slowly moving to HTML5. It was not a coincidence that they announced it right after Steve Job's death, who had been telling them the whole time to move on. I took Flash course last semester and my instructor, who keeps tabs on the latest inside news, pretty much stated the course would be useless in the future. We will start seeing every websites using HTML5, 5 to 10 years from now, because it is "phone friendly," unlike flash.

It will eventually transition out of use. Unfortunately people don't just from one standard to the other. Also HTML5 is still a work in progress, so some may not make the switch till it has been finalized. Just like how the web transitions from CSS 1 and 2, to CSS 3. Took some browsers a long time to interpret CSS 3 styles.