Next Video Codec and Bandwidth

If AVC Main Profile was the Baseline of modern codec, think MP3 in terms of Audio Codec. Then what is the next Video Codec to take over it?

On a 4Mbps AVC, HEVC would be 2.4Mpbs, VVC would be 1.44Mbps.and H.267 could be 0.86Mbps. Since the curve doesn't always fit the the lower end of spectrum. Let say 1Mbps of H.267 = 4Mbps of AVC.

But Bandwidth cost and Storage cost reduction are flattening off, at some point the economics of introducing another video codec, costing additional storage and the bandwidth savings isn't so clear cut.

And of course AVC, H.264 will soon, ( I think before 2030 ) be patents free.