HTML 5 is a half baked techology right now. The spec is not completed never mind implemented. Flash does have some problems. But it is still very useful. Especially to advertisers. And for us it is very useful for streaming video. And it is cross platform.
Flash won't be dead for maybe another 5 years.
Open means whatever Jobs wants it to mean.
Also Flash will be on Android, MeeGo, Windows Phone and other platforms.