Why hasn't US press picked up this new video compression announcement?

I have some theories.

1. Press releases are generally overblown or contain outright falsehoods. For a reputable outlet to pick one up, they have to do some research. I imagine the tech media is incapable or unwilling to do the research required to tell us why we should care about this particular press release.

2. It's hard to know whether a new algorithm is really going to make a difference in the real-world. A sample video can be optimized for the algorithm. So just announcing the algorithm isn't interesting. You'd need a claim like, "99% of people are unable to tell the difference between this 4GB copy of The Avengers vs this 1GB file." It needs to be more tangible.

Because it's an unknown company pushing proprietary snake oil?