I am skeptical of new codecs as they mostly seem to be an excuse to add another 20 years of patents to digital video technology. We have only recently have had the patents expire for MPEG-2. And people are still concerned technology like AV1 might be patent ambushed.

As an editor I wonder how this will affect NLE software? Premiere has always had a shit render engine that makes working with multiple 4k H264/5 projects cumbersome. If this requires more processing power to play, it'll take even more to edit. Adobe only THIS year introduced GPU assisted encoding for H264.