Now if they could just port playerglobal 11 to Javascript, we can run Molehill games in Canvas. Think how happy everyone will be to get that CPU-intensive Flash plugin out of their browser, when they find that now every website chews up 400% more processing power. A cynic might think they were promoting Javascript over AS3 so everyone would have to buy a round of newer, faster phones once these SVG animations start hitting the web.
Just for large project switching to an interpreted language like javascript with another layer of abstraction to emulate the flash API is too much of a performance hit.