I've thought about how to make a modern practical chain case.
IMO this is a big industry for mainly because cheap bicycles are available at large scale.
You can buy one at any shopping mall for a very low price, and a lot of users will prefer cheap vs durable/fast/light/advanced/fancy. As a sign of this, a ton of bicycles have very crappy brakes, little to no gear management, dynamo lights that have abysmal efficiency in exchange for no battery management.
This part of the market will only be disrupted by cheaper technology, and I'm not sure it will happen anytime soon.
Enthusiast market is more open to disruption and accept better designs, though a significant slice of it does maintenance themselves and it's tougher to sell them complex and/or hard to handle parts for only marginal effects (we see that in the tubeless vs classic tires for instance)
Granted, we have access to better materials today, but the cost/complexity cannot compete with the weight, simplicity, and rapid repairability of chain+derailleurs.
But these obviously only work on single speeds or enclosed-gear hubs. For derailleur-style gearing a change away from chains with the properties you described would actually really be a good thing, although I do not see it coming. With regards to power loss, chains get better and better, though.
I don't mean to suggest this tradeoff isn't worthwhile to people who want clean, low-maintenance bicycle drivetrains for working or commuting, but the extra cost of manufacturing makes it harder to persuade cost-conscious consumers.
- [1] https://www.veercycle.com/products/split-belt-pro
Edit: As pointed out in another comment, the fixed size of a belt remains though, unlike with a chain.
I see them as the drivetrain equivalent of disc brakes -- sure, rim brakes are still around. But the tradeoffs are so worthwhile that you effectively can't buy a high-end bike with rim brakes any more (disclaimer: I know that certain touring bikes come with cantis by default, but they're rarer and rarer each year).
The only difference I see is that internal shifter hubs can cost 5-10% efficiency compared to derailleurs. In the commuting and touring communities, that's no big deal -- it's comparable to dynamo loss, which is considered a totally acceptable tradeoff for always-on lights in those communities.
But in the racing community, chains will probably stick around for a long time, at least until internal hubs lose that efficiency loss. There's just too much to lose in that 5-10% for racers, even if it's totally worth it for me.
https://www.cyclingnews.com/news/ceramicspeed-driven-opens-u...