Naive question: why is this newsworthy? What are the implications?
So, presumably, the existence of a standard under development — and the endorsement of it by a major manufacturer of cameras and displays — was considered newsworthy by the OP.
Yes, I'm hoping that the mess that is "HDR" video standards can be prevented in the still images arena.
Hopefully, with Apple's weight behind this open standard, other producers will adopt it as well.