Adobe would essentially have to rewrite flash from the ground up for the mobile platform. I doubt they are investing that much resource towards it.
I think the results of flash does not convince many of us that flash developers are all that great. They are good at making eye candy, but they aren't that great at making anything thats actually useful.
The only thing I would disagree with here is the premise that Flash is just going to inherently suck on the mobile platform. Adobe is investing HUGE amounts of resources into making flash work better on the mobile platform and despite the random idiotic comments that "Adobe developers are all idiots", they are in actuality probably very talented (just like the guys at Microsoft) and I expect they will eventually resolve the problems with flash. I dont know why everyone think it's somehow unsolvable.