Well given that this "standard" was "established in 2003 and revised in 2010" so it started when digital cameras and the format they're using were already at multiple generations, and it died ages ago in terms of "the entire point - the camera processors were weak" I'd say it should be irrelevant for any current decisions.
I've got multiple "Your PC could import the files from the camera storage and rename them appropriately while importing." answers already but they fail to capture both a less complex and a more complex workflow. Everything works very well when a single well organized person comes to the mothership PC/laptop and unloads all the time all the pictures from the camera and puts them through that single algorithm. It doesn't cover people that might not even own a PC (and you're getting pictures in bulk in them, sometimes even without EXIF), it doesn't cover you when you're on the go without a PC for a longer time and you're backing up your stuff to anything from a Digimate II (look it up if you don't know it, that was cool) to the latest iPhone with USB-C (saying that just to touch for sure 3 decades, of course one would use a cheap Android with microSD slot). It doesn't cover the paranoid workflow I actually do have, to not touch the pictures from the cards until I can compare them with the mounted very last backup in the chain of backups I have (this works even better with dual cards, where you compare the second card with the last backup).
Camera manufacturers really lost the train, and it's only half "the world" and being eaten by smartphones. The other half is entirely their doing. The super-premium RX100 Mark VII (that 7th generation, starting YEARS after the last revision of the discussed standard, 1300 $/EUR compact camera ...) for example will let you edit the first letters of the file name but there's no option to somehow auto-change them once the XXXX counter overflows, which is beyond annoying. We're talking about a camera that does 20 fps at full 20Mpixels, with auto-exposure and eye-tracking auto-focus in between! With WiFi, Bluetooth and so on ... but with microUSB! And that's not the USB you don't usually use as for other cameras but it's used for charging (no fast charging of any kind BTW).