You're right, but mp3 is still even more widely supported. It is also good enough, most people can't tell the difference between original files and around 128kbps ABR mp3 files, let alone higher bitrates. And there are huge personal libraries of mp3 files out there that are not going away.

That said, I don't see the use of this tool. It's a proprietary tool that does basic things for which free tools (in every sense of the word) have existed for a long time now.