Well ~~ .. it's more that Silverlight is similar to Flex. It's not Ajax so much as a kind of 'walled-garden' inside of which you have a rich programming environment. Somewhat like Java apps say.
The usual criticism derives from just that. Flex/Flash applications tend to be ignorant of the browser (more or less) so that stuff like back-button usually gives unexpected results.
It'll run on all the current browsers on all platforms. You don't need to "host" flex as you build a SWF file that gets loaded into the browser and is executed by the Flash Player which your users are expected to have already downloaded/installed .. (95+%) penetration helps.
I've been using Flex for the last year or so and it's served my purposes well. It can be integrated nicely with javascript stuff on your web pages and provides a very rich set of capabilities for doing all sorta things like web-services and XML processing and of course all your video/audio/music rich media.