Flash isn't in jeopardy. It's position on YT might be.
h.264, x.264, (insert strangely named codec here) or whatever Google does with YT mike displace the Flash video compressor on YT.
One of the MISTAKES that THG and pretty much ALL other tech-oriented websites are making is referring to Adobe Flash in terms of a video compressor ONLY, while Flash is a much deeper programming API. Additionally, relying on YT as the only measure of Flash success/failure is ridiculous.
When HTML5 is able to produce content that companies like 2Advanced and derBauer (popular names in webdev you can look up) can make, for free, being completely open standard,.... then ... MAYBE ... the Flash API/plugin can die.
Until this happens, and large companies stop supporting it, Flash won't die.
Nor should it.