How does a video compression codec mean the end to Flash, or Silverlight for that matter, when displaying video is only one small part of what Flash/Silverlight is capable of doing?
I agree with you that H.264 is the future of presenting video on web sites (such as YouTube) where there is no interactivity required with the user. However, as Ed Bott explains in his much better article (http://blogs.zdnet.com/Bott/?p=2095&tag=content;col1) there are many other examples, one being the recent Winter Olympics, where one would want to present videos with a much more rich interactive experience, which is not possible with H.264
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