OK, AAC failed. How about MT9?

Seriously, give me a break:

The Motion Pictures Experts Group, otherwise known as MPEG, will meet this month in Germany to consider making a new digital audio format called MT9 an international standard.

Developed by the South Korean company Audizen, the MT9 format -- commercially known as Music 2.0 -- splits an audio file into six channels, such as vocals, guitar, bass and so on. Users playing the track can then raise or lower the volume on the different channels like a producer on a mixing board, to the point of isolating a single item.

According to the Korea Times, its inventors say the new format will replace MP3 as the standard for all digital music. But certain music industry realities stand in the way of their goal.

Two comments here.

1. How could any article write about a successor to MP3 and not mention AAC, even once? It does, however, mention mp3PRO and MP3 Surround, neither which I've even heard of.
2. Given that AAC has been a complete failure, how exactly will yet another format succeed?

OK, I guess those are questions, not comments.

And what's up with this bit of skewed logic:

Despite the difficulties, a new digital music format is exactly what the music industry needs to kick-start digital sales.

Please. What the music industry needs is better music, not a new format.