The history sounds very interesting. Can you share any links to helpful coverage?
I think what might really be interesting was the decision process to open-source vp3, AKA Theora, the ancestor of vp8, vp9, and AV1. Even though it was only marginally competitive with mpeg-4, the existence of a free alternative, seemingly unencumbered by the sort of patent problems afflicting MPEG, put a check on MPEG becoming a virtual monopoly.
In 2010, Google took the baton with the acquisition of on2, and doubled down on the open-source approach.