The direction of Flash has been towards greater openness since around the time Adobe acquired Macromedia in 2005: One year later they released a new major version(9) with a new VM and a completely refactored API, and along with that they released an open source Flex 2 compiler.
Adobe would probably open source their own player and ensure it becomes the "de-facto standard implementation," if it were not licensing-encumbered.
I bet it has more to do with the flak around poor Linux/Unix support for Flash and the fact that in the face of more competition it makes more sense to open up and remain the standard.
Regardless of how open the format is, Adobe knows that they still have the best composition tool. Flash isn't going away any time soon.