Actually it can using 3rd Party Browsers such as iSwifter.
Flash is on its way out however. Windows 8 half removed flash from the OS (anything running in metro can't use flash or Silverlight) and Adobe are dropping support and development of the mobile version of flash player (and MS have already stopped development of Silverlight)
More and more sites are switching to HTML5 and once everyone can decide on the DRM standards for HTML5 the commercial services like Netflix will make the jump too
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Way to break my heart
Flash is on its way out however. Windows 8 half removed flash from the OS (anything running in metro can't use flash or Silverlight) and Adobe are dropping support and development of the mobile version of flash player (and MS have already stopped development of Silverlight)
More and more sites are switching to HTML5 and once everyone can decide on the DRM standards for HTML5 the commercial services like Netflix will make the jump too