Notwithstanding any issues about video codec support in browsers, GIFs will continue to have value until browser-vendors, spec-writers, and webmasters accidentally or deliberately coalesce around a sane ruleset for embedded motion picture completely devoid of audio.
Today, browser-makers have concerns about which videos to autoplay, webmasters' tools for specifying "muted" videos have been unreliable. GIFs completely sidestep that conversation, because GIFs cannot contain audio, and will always autoplay.