They surely plan to lock the industry into their new closed codec for another long time, since patents on H.264 will eventually expire. Will anyone come out with improved open codecs to counter that for the sake of open Web?
It mentions which ones are expired, but it doesn't say how much longer the remaining ones will be valid.
Looks like the last one expires in 2027.
The intentions of improving technical side of the codec are also there, but it comes along with expanding the time of the patent grip on the whole thing.