It's still limited to applications that explicitly support it. Maybe there will be a wider ecosystem than Adobe's. But my current preferred reader apps all either have built-in storefronts (Kindle, Apple Books) or are open source (Calibre and Google Chrome, so I can use a Japanese dictionary extension). The former category probably won't ever support LCP, and the latter category definitely won't.
And as for longevity… who's to say LCP will still be around in 10 years or 20? At least Adobe has a big brand name.
At the end of the day, I'll keep using de-DRM plugins to get around those problems, but that's a solution that only works for people who are relatively tech savvy, not your average reader. And I'm not sure DRM will always be as ineffective as it is today.
As for LCP being around in 10-20 yrs, the idea with LCP (excluding loans, of course) is that you don't need to be online or require a remote server to validate/access ebooks you've downloaded. You just have your "password", that is used to decrypt the book content through LCP, so as long as you still have any app that supports LCP, you still have access to the publication. I think it's the best compromise that will exist in reality for publishers that still want DRM. The entire system is open-source except a small key derivation function.
- you can only read them in [publisher-approved apps]
- you can't share them with your kids
- you are guaranteed to lose access to them in 10 years or tomorrow
Does LCP solve any of these problems?
You can read them in LCP-approved apps. Publishers don't decide which apps are LCP-approved. There is a decent selection of apps that exists, on mobile and desktop.
(the following doesn't apply to loans, only owned books)
> you can't share them with your kids
You can, see https://www.edrlab.org/readium-lcp/faq/ "What are the advantages of LCP for users?" and "Why isn’t there a strict device limit on LCP licenses?"
> you are guaranteed to lose access to them in 10 years or tomorrow
As long as there still exists an app that supports LCP, you can still open the ebook.
As I said in another comment, I think it's the best compromise that will exist in reality for publishers that still want DRM. The entire system is open-source except a small key derivation function. Note I'm not involved directly with LCP, but collaborate closely with people that do for the Readium project.