Flash isn't going anywhere. They're just serving up HTML5 video in addition to Flash video. If it detects an ipad, it'll serve up HTML5. Otherwise, for vast majority of people who still use computers, they'll get the Flash video.
Well, let me ask you something: If you were a company trying to reach the biggest audience possible and have the choice between building two websites or building just one (let's forget about IE6, those aren't people