Adobe is finally putting an end to Flash Player. They've announced they're stopping development of the mobile Flash Player, which is where the future of tech innovation is heading, and the writing is on the wall for desktop Flash Player as well. This is a good thing for a myriad of reasons, both technical and political.
However, it is important to remember that Flash drove much of the innovation on the web as we know it today. When Flash was conceived over a decade ago, the web was a glimmer of what it is today. Creating something visually impressive and interactive was almost impossible. Flash brought the ability to do animation, sound, video, 3D graphics, and local storage in the browser when nothing else could.
Flash Player itself seemed like a means to an end. Macromedia, and then Adobe who acquired them, sells the tool that you use to build Flash content. Thus, Adobe's incentive was not to build a great Flash Player, but a pervasive one that would sell its tools. Its technical stagnation provided a market opportunity for browser developers to fill in the gaps that Flash provided. As a result it has a huge market dominance in tools for building rich apps for the web, tools HTML5 lacks.
HTML5 offers developers the ability to build high-performance, low-power apps and experiences. Browser innovation has never been faster; Apple, Google, Microsoft, and Mozilla are all competing to bring the best new features to their browsers in compatible ways. But they're just now filling in many features Flash Player has had for years. Adobe can harness this to help build a better web, and few others can. Hopefully they seize this moment.