Does it really matter if the codec you're recording with is an industry standard or not, as long as you fulfill this requirement when delivering?
Well, yes and no.
XAVC is an h.264 AVC format such as AVCHD, and has become standardized in virtually all video encoding used worldwide in cameras, camcorders, broadcast video, and satellite transmission. The newest flavor, XAVC, supports 4K UHD, and is already heavily in use. One could imagine this form of encoding in future 4K UHD Blu-ray even though HEVC, with nearly twice the efficiency has been named as a codec supported in the new disks.
When the Blu-ray spec was originally developed, a similar situation existed. The newer codec, AVC, offered efficiency advantages, whereas the popularity of MPEG-2 and HDV video were less efficient but very well-established. At that time, Microsoft' Windows Media Video codec, VC-1, was also included in the standard, not because it was especially popular, but because Microsoft was represented well on the standards committee and exerted considerable influence.
It is therefore entirely possible that both HEVC (h.265) as well as AVC (h.264) will BOTH be supported on the new 4K BluRay disks. In doing so, the author can choose and the player will abide.
Avoiding the need to recompress from one 4K format from my XAVC cameras to another used to author, HEVC, is what I want to entirely avoid. The time involved as well as the quality penalty make this a very unattractive prospect for early 4K adopters whose cameras only can create the older AVC content.
Larry