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VLC player demos real-time AI subtitling for videos
(www.theverge.com)
This is a most excellent place for technology news and articles.
I mean, it would. For example Jellyfin implements it, but it does so by extracting the pictures ahead of time and saving them. It takes days to do this for my library.
I get what you are saying, but I don't think there is any standardized format for these trickplay images. The same images from Plex would likely not be usable in Jellyfin without converting the metadata (e.g. to which time in the video an image belongs to). So VLC probably does not have a good way to understand trickplay images not made by VLC.