De acuerdo a este FAQ de Adobe, se planea combinar el Flash Player y el Acrobat Reader en una sola aplicación:

What are Adobe's plans for Flash Player and Adobe Reader?
Our long-term plan is to develop a "universal client" by combining PDF, Flash and HTML in a single, integrated runtime. Of course, we will continue delivering the Flash Player as a small, efficient runtime for content and applications on the web, and Adobe Reader for viewing and interacting with PDF documents and forms. The integration of these technologies into a unified framework creates a ubiquitous platform that runs on virtually every device, and dramatically expands the opportunities to create compelling solutions.

Como dice Todd Dominey: de repente sentí un sabor un tanto ácido en la boca...