HLS, DASH, MPD and LMS future version

Ahhh.... another hot topic I personally was happy somebody else took
care of :-).

But as much as I tried to avoid it (lack of understanding and time to
learn to understand) I think this would indeed be a great addition.

Now... just to show how ignorant I was: today I looked into PlayHLS for
the first time. And I was surprised that it did NOT use ffmpeg. I always
thought that's what it did...

So my first question would be: would it make sense to use ffmpeg to
simplify the LMS side of things? It's a monster, and it might require a
lot of tweaking to make it a lean and clean addition. But would it
simplify things? With multi-core becoming the norm having a helper do
the heavy lifting instead of massaging it in to LMS might be a
reasonable approach?