Yep. I really see it that way. PDF is nice enough as a transport format for print output. And as a basis for the Quartz engine in OS X. But in the browser as a page format, that's silly. I'm really annoyed by all these constantly linked PDF files - does creating HTML versions really take people so much effort? When I want to view a price list, I don't want to have to launch Acrobat or Preview first, just to have another window open. You can render that as HTML too. Silly people.
Just as silly as this Macromedia vision (yeah, I have visions like that too - after enjoying a pepperoni pizza with extra cheese) building everything with this horrible (and discriminatory) Flash-MX.
At Der Schockwellenreiter there's the original article.