How many flavors of HTML are there on the web? A dozen? The newer ones are 10 years old. HTML 5 is a new specification, started five years ago, and is aimed at handling media on the web. It will be ratified in many years. It will be in widespread use in perhaps another 10 years.
The World Wide Web Consortium’s (W3C) HTML 5 proposal is geared toward Web applications, something not adequately addressed in previous incarnations of HTML, the W3C acknowledges. In other words, HTML 5 tackles the gap that Flash, Silverlight, and JavaFX are trying to fill.
Back to the question. The answer is ‘no’. The web is dynamic and old standards die hard, if at all. One may want Flash to die, but wishing for it won’t make it happen.