Oracle need to get their act together, no doubt. But there's still a lot of value in having a widely available, nearly ubiquitous, cross-platform runtime like Java. JNLP / JWS is amazing technology, but hampered by Sun having been SOOOOO late to the game in terms of delivering the Consumer JRE and failing to deliver the APIs needed to truly make Java useful on the desktop.

But even today, if Oracle would really commit to Java as a desktop platform, I believe it could still succeed. Adding proper support for modern video / audio formats would be a nice start. Well, aside from fixing the security issues.