SVGA graphics, being vector-based (as the name suggests), are indeed sharp, most notably when scaling up or down, and I've encountered SVGA-based interactive graphics which are reminiscent of Flash-based animations in that specific regard.
Again, I'm not addressing other aspects of these options, and I do very little direct development of this type.
I'm quite familiar with the claims that Flash was attractive to publishers and creators. On the receiving end, I was less impressed. Odd Todd excepted. The proprietary nature (I generally run Linux) and constant security concerns, as well as hiding web content within an inaccessible format (e.g., text couldn't be readily extracted) were all frustrations. I'm also generally not a fan of any animation.