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> The only reason you wouldn't use HEVC is if your hardware lacks support
No, the main problem with HEVC is that it is not licensed under royalty-free terms. In contrast, almost all commonly used internet formats and protocols are licensed under royalty-free terms so everyone is free to use and implement them without paying a licensing fee. Video has been an anomaly.
Imagine if HTML wasn't licensed under royalty-free terms. Or TCP/IP or HTTP or SMTP or any other internet format or protocol that you (probably) use every day. There's no reason why video needs to be a special case here.
Fortunately, video formats like AV1 (https://aomedia.org/) and audio formats like Opus (https://opus-codec.org/) exist for high quality, royalty-free video and audio coding. These formats are deployed in the real world right now. YouTube, for example, makes extensive use of both.
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