"We continue to monitor developments on HTML5, but as of now it doesn’t yet meet all of our customers' needs... Our player doesn’t just simply stream video, it must also secure the content, handle reporting for our advertisers, render the video using a high performance codec to ensure premium visual quality, communicate back with the server to determine how long to buffer and what bitrate to stream, and dozens of other things that aren't necessarily visible to the end user."
They plan to release a dedicated application for the iPad and iPhone instead, likely a paid subscription service. Perhaps this is a good sign for Web based television as it will move more users away from the single locked down channel from the networks and to more diverse options less interested in extracting subscription fees (like YouTube).
"Probably the best operating system in the world is the [operating system] made for the PDP-11 by Bell Laboratories." - Ted Nelson, October 1977