I agree that those market forces were at play. However, I think that the players involved could have made different decisions and affected the outcome.

I can't say that I know the heart of Adobe as a company. But, it seems like they were too infatuated with Apple to put up the fight that would have made rational business sense.

Days after Jobs slammed Flash, Adobe launched an ad declaring that they loved Apple. These are not rational stewards of the product.