HTML and JavaScript were never seen as a real competitor in the RIA space given it's current limitations, but with the new featureset for HTML5: canvas (2D drawing), sockets (P2P communication), multithreading (background processing), audio/video, local storage... it might very well become the RIA platform of choice given today's huge developer base.
HTML5 won't be released for a couple more years, but Google and Apple are betting heavily on it so
SunOracle, Adobe and MS better keep an eye on it as well.
Link:
http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9134422
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