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It depends which domain / sector you are looking at. But generally speaking, bandwidth and Disk Space are no longer an issue. The marketing hype of MP3 Pro / AAC 64Kbps at CD Quality ( where CD quality is defined as MP3 128 Kbps ) no longer matters. The sweet spot moves slowly from 128 Kbps, 160Kbps all the way to 256kbps or even higher. At this sort of bitrate not only just consumer, but most of the enthusiast no longer cares. And AAC-LC, is now patent free.

An Codec from R&D, adoption to mainstream easily take 10 years. ( Unless you are certain organisation which somehow believe you could do that every 2 -3 years ). During that time Internet Bandwidth has increased anywhere from 10-100x, as long as we continue to invest into 5G and Ethernet. We will soon all be streaming lossless or 320kbps Musepack v8 music.