I actually doubt that Adobe has the competence to make high quality software, that would be required for mobile Flash (due to serious optimization that is required).
There is probably not enough engineering culture in the company for that. I also think that a proper software company cannot be located in San Francisco itself, otherwise they tend to attract programmers that are too cool/have to many outside interests to write a high quality code.
"Too many outside interests to write high quality code"?
You need to get the chip off your shoulder and distinguish between genuine passion for hacking, and escapist basement dwelling. Outside interests refresh your mind and body and give you new inspiration.
