Adobe will continue to develop apps and provide server support for Flash.  Adobe Air for example is available even for iOS for app development and Adobe Flash Media Server 4.5 and later already supports auto converting of Flash media streams into a format compatible with iOS.  So Flash is still there, just going to the background where people will be less aware of it being involved.

While the trend is definitely for HTML5 taking over, and Adobe is shifting focus towards HTML5, but the problem is HTML5 isn’t ready to take over completely yet.  There’s still a few things HTML5 can’t even do yet that Flash can.  Meaning this is more a shift of dominance than a outright replacement right now.

So they need to do a lot more development before it is in a position to take over completely but HTML5 is developing pretty fast and we’ll likely see in just a few years where it stands or whether we need to wait till the next version release before we can truly start saying goodbye to Flash.  Assuming of course Flash doesn’t develop into something we might continue to need or even made to work with HTML, like CSS and Javascript does now, by then.