Adobe's Ace in the Hole?

There's one thing I'm having trouble figuring out about this whole Flash CS5 thing. Adobe invested a lot of time and money to get Flash on the iPhone, seemingly against Apple's wishes. To sink that much time and money into trying to get software onto a closed, proprietary platform without the consent or help of the gatekeeper seems odd. From an outsider's perspective, Apple seems to hold all the cards. They have any number of technical means to prevent Flash-generated apps from going on to the App Store if they decide to. It seems to me that there's only two possible explanations for Adobe's actions.

1. Their management is desperate and completely incompetent. Possible, but doesn't seem that likely. While Adobe has made a lot of decisions in the last few years that I consider poor, I haven't seen any evidence of this level of gross ineptitude


2. They have leverage to use against Apple, or some reason to think Apple will allow them to do this. Perhaps, some kind of "ace in the hole" that Apple really wants? Perhaps a 64-bit version of their main CS5 apps, like Photoshop and Illustrator?

I don't know. Obviously, Adobe's not going to tell me anything, but one has to wonder if there isn't more to this than meets the eye.