Removing support for those particular codecs isn't the end of the world. YouTube, Disney, Netflix, Prime Video (ie. the largest video streaming sites) all use open codecs and thus are unaffected by Fedora/Suse's decision.
Keep in mind implementing ASICs need a way more time and a way more till broad support has reached customers. Systems with Sandy Bridge or even earlier (like ThinkPad X201) are working fine and being used. Long working reliable hardware is a good thing.
Streaming (select best codec) can adapt quicker than video-chat (common codec). And so called "Smart TVs" will not receive updates at all?