Bad news for Steve "no Flash" Jobs and iPhone power users (hipsters, close your browser now!). With all the hype surrounding HTML5, the latest web standard has become a bit self-conscious of its designation. Therefore, it demands that you just refer to it—and all future iterations—as HTML. Got it?
WHATWG and W3C, the main organizations leading the charge to create a final HTML5 spec, realized that updates and new standards are moving at such rapid speeds that they won't be able to deliver a final standard by 2022 as they promised previously (there, I've said it!). Instead, HTML will simply be a living, ever-evolving specification, the way it's been for years.
But what does this mean for iPhone users? It means that you will be continuously milked by Apple and other corporations for media that is available for free on a PC or any other Smartphone because HTML won't replace Flash in the next decade. Apple's app-ification of the web stops at the point where you can see your favorite shows for free. Sure there's HULU and other streaming apps that all require a paid subscription and most likely won't work if you're not in the US.