Did Adobe ever put a serious effort into mobile Flash development? It seems they were more interested in blaming Apple for the lack of mobile Flash than actually doing the work required to make Flash a remotely viable option for mobile devices. I wonder, what was the catalyst that caused Adobe to admit what everyone else already knew? Perhaps they saw the 5 year anniversary of the iPhone on horizon and figured enough…
I think it's pretty obvious. Adobe simply did the math and figured out that they are losing money on supporting the myriad of mobile devices that get thrown on the market promising 'the full web' with Flash. High development effort, low income, big competitive threat from upcoming HTML5 authoring tools.
Remember when Flash was still only available on Windows, Linux and OS X? Even then Adobe had a hard time properly supporting OS X and Linux, which have always been second-class citizens compared to the Flash Player for Windows. 6 months ago Flash Player for OS X didn't even have GPU accelerated video, and there wasn't even a 64-bit version for Linux. The only reason this has improved somewhat is because Adobe had to show the world that they were serious about supporting Flash, and to counter all the negative press Flash got as a result of iOS not supporting it, and OS X and Linux users complaining about it.
Now imagine the investment Adobe probably has to make to support 20 different ARM SoC's, and make the player even more efficient than it is on Windows PC's, knowing that neither iOS, nor WP7, nor Windows 8 Metro will ever support it. All just to sell a few more licenses for their Flash authoring tools, which is probably a dwindling business already.
Flash is dead because the world has moved on, and there is no money to be made from it anymore.