I would argue that Adobe knows very well which parts of the web it owns. And yes suprisingly the killer app for flash is video (or was in 2005 ;) ).

...until <video> works. Adobe own video on the web at the moment.

Someone in the comments mentioned silverlight having open specs & MS paying for a linux implementation. As always, there's a catch.

http://en.wikipedia.org/wiki/Silverlight#Mono_Moonlight_impl...

http://en.wikipedia.org/wiki/Moonlight_%28runtime%29#Microso...