The short answer, now and in the foreseeable future, is no .
First, you need to understand that this is not just the HTML5 we are talking about. Javascript is also needed for animation, game logic, 2D / 3D engine, etc. Although ActionScript performance is very low, Javascript performance is terrible compared to this. In addition, Flash has a mature and developed IDE and a set of drawing tools that allow you to create complex vector graphics and animations. As far as I know, there are no such things for <canvas> .
As for the specification, then again it is impossible. Adobe manages the IDE, language specifications, and client side for Flash. This basically means that they can do whatever they want with them. If you do not like any changes, do not buy / use their product. This means that they can develop their product in whatever direction they consider necessary, and at a pace that the W3C can never match.
HTML, on the other hand, is very different. The W3C should sit down with major browser vendors, as well as listen to web developers and end users. While critical, interesting features like <audio> and <canvas> are at the top of every web developerโs wish list, backward compatibility is also incredibly important for specs. This is one of the reasons that spec development is so slow - specs don't just depend on W3C deployment - they are also browser makers using specs, web developers using features, and end users updating their browsers. None of this will change with HTML5, so why do you expect development speed to be achieved?
source share