As internet speeds increase, the demand for compression decreases. We are moving toward codecs (more efficient than MP4's H.264) and AVIF images. However, the MP4 container is so deeply integrated into hardware (iPhones record in MP4, Sony cameras shoot in MP4) that it won't disappear for decades.
While there are many streaming services (Netflix, Amazon Prime, HBO Max) that stream in MP4/HD, the keyword "peliculasmp4hd" is often associated with digital archiving. If you are ripping your own DVDs or Blu-rays (which is legal in many jurisdictions for personal backup), software like MakeMKV or HandBrake can convert your discs into pristine MP4 HD files.