I'm confused what Flash has to do with streaming. Remember when you would click a video link on a webpage, and either QuickTime, Windows Media Player, and RealPlayer would start up and start streaming the video? We got so entrenched in "everything must fit in the browser window", that we all sat back while Flash slowly crept its way into our nether regions. There's no reason that Flash and Streaming Content should have anything to do with each other. You know why you can watch YouTube videos on your phone? It has nothing to do with Flash, it has everything to do with the streaming video player installed on your phone. Click a link to a video on a website, and your phone opens up the video player (just like your PC used to). If Hulu wasn't so concerned with people skipping commercials, they could already be streaming to people's phones over the existing services.
Flash IS useful for interactive sites and games. It has no purpose in streaming video, other than allowing us to be lazy, and not having to switch to a separate application to view videos. Goes to show you the value of content when you're not willing to have to Alt-TAB between applications just to watch that YouTube video of a giggling baby.
I guess, as a society, we're playing right into Google's hands by demanding everything run in our web browser. I didn't understand how Google thinks the whole world can run off the web, but I guess in reality they're just giving us what we're all so desperately craving. A world in which we don't have to go through the hassle of scrolling down to our Task Bar and clicking some other icon to switch to a different application. It's much better to scroll up to our bookmarks and click a link to another website.