In my opinion, for what that's worth, Jobs was partially correct!
Jobs big thing was that Flash was a monster and we all needed to stop feeding that monster and convert to HTML5 right now. Converting the entire Internet to HTML5 would have been a nightmare of epic proportions. It would likely have cost trillions of dollars to accomplish and would have taken years to fully implement.
While I don't think anyone really disagreed that HTML5 has the potential to be a better graphics medium than Flash, the HTML5 standard is still under development. There is no official standard in place yet and, as such, browser manufacturers don't have a consistent set of standards to implement. And as we saw a few years ago with draft Wireless-N development, not having defined standards means that manufacturers will make assumptions and implement things that may or may not be compatible with the final standard. And this usually turns into compatibility issues for the end user!