HTML5 and presentations

HTML5 is a major revision of the HTML language that powers web pages (Wikipedia link for the details). You can find an example of a presentation designed entirely in HTML5 here. Use the cursor left and right keys to navigate between slides. The presentation does not have a good design, but it gives a flavor of the capabilities of HTML5.
Could HTML5 become the default file format for all presentations, decoupling software that creates presentations, environments that display them, and sites that build a social infrastructure for sharing on the web?
  • As file sizes become larger, and internet connections become always available, a "in the cloud" file format for presentations becomes more likely
  • I expect the position of Microsoft PowerPoint to go down somewhat, as smaller niche presentation design tools make inroads (Prezi, etc.)
  • New devices with touch interfaces will add a whole new dimension to animations in presentations, HTML5 seems very well suited to deal with those.
I am curious to hear the perspectives of readers which a stronger technical background than mine.
Thank you Eyal Sela for suggesting this link.