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> enabling high-quality video delivery at significantly lower bitrates

> likely will remain so til ~2028 when the first av2 hardware accelerated chips start dropping

This might sound dumb, but whats the point if its intended for slower devices, but those slower devices don't even exist yet?

It's not for slower devices, it's for lower data transfer bills for providers like YouTube.
It's a win for consumers as well if you can get better video quality or more reliable calls on a slower connection.
so that new devices can adopt it

They can't adopt it if it doesn't exist.

And what about old devices? I'm sure someone out there is still using an s5 as a daily driver... Future proofing is great and all, but 240p on modern devices looks like trash, even worse than tube tv.
240p for someone’s webcam thumbnail in Microsoft teams is perfectly sufficient though.
They can keep using whatever they're currently using.

This doesn't take away anything. It's a new standard.

Based on your argument, one should add new safety standards to cars like seat belts, because old cars might not have them.

one shouldn't*

One shouldn't add new safety standards*

writing before coffee...

To be fair, some municipalities do actually require old cars to be fitted with seatbelts... air bags, not so much, because apparently changing a steering column is too hard?
Well, I just noticed I said 'should' and not 'shouldn't' which I wanted to say

But to your point,

While they might not be required to retrofit, one shouldn't stop defining new safety standards.