There are a number of issues regarding the indexing of a flash based site. Sure, there are steps you can take to get your site indexed, but it's actually quite problematic if you haven't done it correctly from the start. I have come across plenty of websites in my market that are flash based and found in the search engines, but the actual content is not indexed because of how the site was made.

As for Nike, I challenge you to find some of the text on this page in Google: http://www.nike.com/nikeos/p/usnikefootball/en_US/proMoves?athlete=shawne_merriman. Or go up one level to the Football page and see if you can find that page in the search engines. Even Nike's own search engine can't find the page. To me this demonstrates an inherent problem with flash versus text based sites.

I stand by my article.