The question can never be put too seldomly as it is still a bad secret why Apple "protect" their products from the "ugly" Adobe Flash player.
Some people in this forum claim that the cause is that Adobe has not managed to develop a satisfactory solution but that is not true.
On the other hand it seems that Apple is opening a door a litle. Now it is possible using the Adobe Flash Professional and Flash Builder to create application for the iOS products. The whole development process is supported and you do not need to use ONE SINGLE Apple tool.
Therefore I think it is a question of time until Apple accepts the Flash player on the iOS platforms.
As to the HTML 5 - this is no surprise to Adobe which have prepared for the step forward to HTML 5 for quite a while. The HTML 5 standard will set the stage for the future internet but it does not make Flash or iOS redundant.
This is about a fight on a very high business level and Apple will never tell all the reasons for their strategy as little as Adobe will.
History shows that there is only one loser in such a fight: the user.
Although we do not all agree with each other, let us keep a good tone in here.