I agree it should have been open-sourced (at least the player portion)...

As for Silverlight, I mean the technology itself was closer to where I wanted to see Flash go. I'm not sure why you're laughing at that.

edit: as for not being as bad as people describe it... you could literally read any file on the filesystem... that's a pretty bad "sandbox" ... It was fixed later, but there were different holes along the way, multiple times.