Well, basically if we want to keep up with Flash Player future versions and corresponding features and improvements, other than security fixes, we will have to switch to Google Chrome. Adobe went on to say that future updates to Flash Player beyond version 11.2 for Linux will be available only through the Pepper API that will run on Google Chrome and not through a download from Adobe directly. Mozilla hasn't provided any statement about this that I know of so far, so it is expected that Firefox will just use the last version provided by Adobe for the years to come.
I also wish that html5 takes over the Internet, however some functionalities still rely strongly upon Flash player, such as media streams and it will take some time until we get rid of it.
Read this and this for additional details:
There has been some heavy discussion about this as well at Ubuntu Forums. Check those out:
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