This comment, right here, gives a good insight into why Adobe hasn't been making what they need to make.

It seems like you can't seem to do something unless the users tell you they want it.

People don't ask for features that they don't think will ever happen. Just have a core team that says, "great idea, if it's feasible put it at the top of the list." Not, "well, lets see if the community asks for it before we put too many resources into accomplishing something that will definitely be useful because they may not want it right now, even though that's only because they haven't thought about how useful this tool would be." Yes, I am very sarcastic. That's sarcasm. They would never say that much in one comment, indicating how unintelligent the beginning of their statement was in their own statement.

WebM. It makes really small file sizes for the web while keeping them looking fantastic. Don't ask the community. Just Do it!

Also, if you can manage it, make it faster. It is like 20 times slower than H.264 to encode.