If the iPad or any iOS device had Flash or Java support, you'd be able to go outsides of Apple's ecosystem and gain access to things that now require a trip to the App-Store or iTunes.
By not allowing support for any 3rd party plug-ins, Apple guarantees they are the gatekeeper for all aspects of their iOS devices, so even if it's a search in the App store for a free app, that's still better for them than a user going on the web and doing a Google search for a similiar web-based app.
Another factor to look at, is that prior to Flash becoming the largest form of online video delivery, which it still is today and it's not slipping, Apple had no issues with Flash. It wasn't until Adobe added H.264 support HD capability back in 2008, that Apple started to sway on their support for it. It became a huge threat to Quicktime which for reference, all video playback on an iPad is handled by it and the same goes for HTML 5 video on a Mac.
I have an iPad and a Nexus One. Flash 10.2 runs just fine on my Android phone, which has a similar specced CPU to the iPad, just a slower GPU, so I know for a fact my iPad can handle it. It's a choice I like and why I have no care to buy another iPad outside of development, unless Apple introduces a tablet that's inlines with my MacBook Pro.
And don't believe the half-truths that Jobs stated about Flash. It was nothing more than a diversion. He states things that that were only true years back, disregarding the fact it has evolved and still does to this day. What's sad, is that there are people here that still willingly buy into his misinformation, just because of their zealotry for iOS, instead of looking up the facts. One example is about Flash only being for mice and PCs and not touch-screens, even though it fully supports multi-touch gestures and we all know that rollover states just don't work on a touch-screen period, so it doesn't matter if it's Flash or a simple hyper-link. For some it comes down to this, if they can't have Flash, no one else should either, and this is a vibe I get from the iOS zealots that hate upon Flash. Their choice was taken away, so of course the grass is always greener on their side of the fence, so they'll perpetuate the lies, because the more people on their side of the fence, the merrier and that way they don't feel left out.
So, as long as Apple has the mind-share, don't expect them to give into Flash, but here's hoping they slip even further, because Apple is at its best when they're the underdog.