OK, so... Would it be possible to do something similar for video?
As for the latter, you'd have to perhaps feed Google Scholar the right incantations or ask someone with knowledge. As far as I know, video codecs already have a huge bag of tricks they use (for example the B-frames borrowed in this post). Even then, the key points in this codec were that firstly it's meant for use at very low bitrates, where existing codecs break down, and then secondly it's a vocoder, so it's converting audio to an intermediate form and resynthesizing it. That kind of lossiness is acceptable for audio, but I'm not sure how it would work acceptably for video.