I was looking at this newly updated piece of software called Friction. Its vector animation software made for web graphics and videos, and the idea of vector videos like Flash popped in my mind. It made me think that there should really be a good open source replacement for Flash. None of the other suggested replacements like HTML5 have had the same punch as Flash. If you wanna make something interactive like Flash, you have to use something like Javascript or CSS. I feel like the best idea for an open source Flash replacement would be a container with (SVG+SMIL)+APNG/MNG+OPUS in one video file. Maybe there could be another coding language that could be put in there because I dont know if SMIL covers the interactive functions that Flash had. And I wouldnt use Javascript because the web already has enough javascript and I would use something faster and cleaner.
(Edit) I found out that SMIL can be used for interactive elements with the [mouse] event. What its missing is audio though. Also, it's said that SMIL (+VoiceXML and MusicXML) could be syndicated with RSS and atom. Maybe SMIL could also work with VRML/x3d or gltf.
If you could make an FOSS replacement for Flash on the web, how would you do it? Maybe we could even write a proposal if we're crazy enough.