The encoding part may well differ, but having the same bitstream format and thus being able to use the same decoders for a very wide range of efficiency/time trade-offs has huge advantages. The necessity of using hardware implementations of video decoders in many scenarios requires a big initial investment into a new codecs' decoding part before even the first frame of video may be displayed by it.
This is why pretty much anyone has standardized on h264, and now on h265, as the video codec of choice, despite using very different encoder software or hardware to realize hugely differing trade-offs on the encoding side of things.
This is why pretty much anyone has standardized on h264, and now on h265, as the video codec of choice, despite using very different encoder software or hardware to realize hugely differing trade-offs on the encoding side of things.