Maybe. Real time and production often has special needs general purpose tools don't cover. A lot of delivery codecs focus on things like lossy compression and buffering. I know from video production and computer graphics, delivery codecs are miserable to work with for reasons such as: not allowing arbitrary channels (if you only need 1 channel or maybe you need 5 for an alpha and bump map), playing in reverse, cutting in on arbitrary frames, different compression on each channel (lossy rgb, but lossless alpha), etc. My understanding is that Bink is often used for realtime playback of multiple elements integrated with the 3d environment (triggered explosions, HUD elements, streaming textures) so it needs to be performant, handle many simultaneously, and integrated with the engine since you'd be applying transforms and LUTs.
It'll be nice if there are great, free, off the shelf codecs and tools, but at least right now almost every current AAA game seems to use Bink.
Modern codecs like AV1 and whatever succeeds it can already be good enough for such special needs too. It's only natural for free codecs to catch up to that eventually.
It'll be nice if there are great, free, off the shelf codecs and tools, but at least right now almost every current AAA game seems to use Bink.