
Benjamin Drung with Canonical published the specification a few days ago for switching the default initrd infrastructure from initramfs-tools to Dracut.
Using Dracut on the Ubuntu desktop and server will address shortcomings of initramfs-tools like the lack of NVMe-over-Fabric support as well as allowing Bluetooth keyboards to work during the LUKS disk encryption unlocking at boot time. The initramfs-tools also relies on a lot of "slow, fragile, hard to understand" shell code.
While Dracut is a win and used already by other Linux distributions, the Ubuntu transition remains ongoing due to testing and there being dozens of packages relying on initramfs-tools integration.
Ubuntu appears committed to going with Dracut, it appears to just be a matter of time until everything is ready for a complete transition. Those wanting to learn more about this effort can do so via this spec on Ubuntu Discourse for all the details.