Will we ever see this in the future of iOS? There are plenty of times where I would like to do other things while watching a video. Via Netflix, YouTube, etc. I know Android has this, and this is one feature I would really love to see in iOS.
The Galaxy S 3 has this feature. And it also has a 4.8' 720P thats big enough to make that practical. The iPhone 5 screen is way too small & narrow to split it between 2 different apps like that.
I really don't see the point on the screen size we have currently for our iPhones. Now on iPad, yes, I could see the benefit. I personally don't think I'd ever use it, but the screen is more than large enough. Apple won't do it unless they come up with an intuitive user interface for it though.