As mentioned above, ALAC is an open source format, which has all benefits as other open source format e.g. FLAC.
Technically, it's still not as good. For instance, FLAC includes a checksum of the audio data, whereas ALAC doesn't. FLAC also compresses a bit better (=smaller file sizes) and decodes a bit faster (=lower CPU/battery usage).
Except adoption. FLAC is much more widely supported, so why opt for ALAC?
I can't information theoretically argue for this. But I can algebraically argue lossless conversion rather than storage is great, and this seems great for the war against bad IP legal regimes.
Too bad they are probably only doing this because they feel that with streaming's dominance, the IP regime is not at risk.