Earlier quoted context omitted.
and USB-C allows the transmission of displayport over USB-C
It also allows the transmission of HDMI over USB-C, so you still have two competing standards
This may not seem like a very meaningful distinction to most people, but it would become readily apparent to anyone trying to design a home theater around DisplayPort instead of HDMI. Off the top of my head, DisplayPort lacks any equivalents for ARC, Auto Lipsync, and CEC. Odds are your home theater makes use of at least two of these features, even if you don't realize it.