What is your opinion of flash video being abandoned ?

Much talk has been running around here of the future limitations of flash on Chrome.

I run a website that is highly reliant on streaming ( www.seedr.cc ) Flash is indispensible since browser manufacturers cannot get to decide on proper, always-working streaming.

Videos are auto-converted to multi-quality HLS + MP4 to support all devices and stream during conversion. Thing is , it's looking like browsers are moving away from flash yet leave no proper way to stream video across devices without keeping 6 different copies of each video around ( + the conversion overhead of doing that )

What would you say is a solution for that ? Or does google actually expect developers to use 4GB for every 1GB of files uploaded ?