The caseless design also greatly reduced the amount of brass that was needed for ammo which also reduced costs. Ammo could be made smaller with more compact types of propellent. This made higher velocities possible though at the cost of barrel wear.
In a way the BG-15 and GP-25 and GP-30 40mm underbarrel grenade launchers are already caseless ammo, though they act like grenade mortar in the sense that the entire round if fired leaving no stub cartridge case to be ejected.