I would not call JPEG2000 being "barely used" - it is the standard format for all digital cinema movie packages.
Its then (usually, but it is optional) encrypted to make sure that its hard to copy. The keys are sent directly to each projector to allow time limited, and or other limited use.
The reason why its used is because it optimized for quality, rather than size. It also allows custom colour spaces and other tweaks to maintain/enforce colour correctness/image quality.