It also needs to consume much less power than the old shader-based stuff did, while the same utilising cpu.
And that is what these fixed-function blocks should be good at, hence all three players implementing them. BTW I've read somewhere that the VGA guys also need fast and efficient encoders for purposes of wireless display connection technology, since it might need compression at least for higher resolutions and refresh rates. (Dunno if it is just a BS or actual fact.)
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