Check out this question from an Axis online knowledge test:
Axis says the correct answer, i.e., the weakness, is that 'it is difficult to estimate bandwidth and storage needs.'
The key element here is how much bandwidth and storage varies over time, across scenes, etc. Even for H.264, if you use CBR, than bandwidth and storage is simple to estimate, as bandwidth constant. Of course, Axis does not support CBR. What they list as constant bit rate is essentially VBR with a cap. For background, see: CBR vs VBR: Surveillance Streaming
Many factors impact bandwidth consumption, something we examine in depth in our Bandwidth Guide For Video Surveillance and Advanced Camera Bandwidth Test Results.
Axis does not say what this is a weakness compared to but I am assuming that it is relative to MJPEG (the reference to 'efficient compression standards'). Even then, it is weird to see it at as weakness, since that's like buying a camera from one vendor who says the price is $20 to $100 versus another vendor who says its $500 flat.