The dye bleach process has been known since the '30s or earlier. Kodak and other companies were competing for this market with dye bleach materials in the 40s but the Kodak product was never released. A Cibachrome type product was available even then, but AFAIK, only in Europe.
It is noted for high contrast, low speed, high color saturation and often for loss of detail. Most particularly a red rose will show nearly all loss of dark shadow detail. Camera speed films were worked on at Kodak in the 60s and we had some pretty good results, but the grain was far too high due to the technical details.
Dye bleach will probably vanish due to the high cost of coating, the high cost of the dyes, and the extremely corrosive process chemistry, but OTOH, would be the easiest to recreate sometime in the future if anyone needed a color material and all others had vanished.