Flash and HTML5, Coexist?

In my opinion, basing from the features in the new Master Suite CS5.5, I think Flash and HTML5 could coexist in the future. The new Master Suite seems to mainly focus on the ease of developing and designing mobile applications and tablets. In the future, when HTML5 becomes more widely supported, I think Flash would be mainly used for mobile applications and desktop applications. HTML5 would take over animation, video, and audio for the web.