Proprietary video formats/firmware is a big can of worms, but if you like the subject there is probably a lot of work to do. Try to find a project, I guess they have a list of additional formats they want to support. I used ImageMagic in the past, but I never send a PR, so I don't know the community. (It's weird that most of the titles of the commits are "...".) (Also, try to star small, you are never sure they will merge it. Ask before doing a lot of work.)
There has been recent work done on mainline Linux to ensure the closed drivers can be used easily.[1][2] I guess this is a step in the right direction towards a clean room reimplementation.
[1] https://github.com/openpvrsgx-devgroup/
[2] http://lists.goldelico.com/pipermail/openpvrsgx-devgroup/