Yes. Text, and images, wrapped up and 'streamed' to a flash player. Call me crazy, but I think that's bad for the web. Those text files and images should be free to roam. Not caged up in a horrible flash player. Add to that their aggressive google SEO, and it's a bad bad situation.
experts-exchange.com has 1.5m entries in google.com whilst scribd.com has 16m !!!