Adobe yet again not getting it? I realize that one person does not the voice of Adobe make, but I would have thought that he would realize that Javascript is very often not used in isolation, and more often than not as part of a large suite of technologies (Databases, network infrastructure, backend code - if not JS).
I think he's talking about using Javascript in flash's tradition role, i.e web games and interactive content.
Personally I deal a lot with Video on the web, and although I have a Flash player my main body of development is in native implementations and transcoding profiles for Ogg, WebM and using x264 for preview.