Since WaveLab 8
It is more of a mastering feature, and mastering concern. Thus makes sense to be a selling point for WaveLab. I was actually thankful to get RMS normalization in Cubase.
true peak and what to do - WaveLab - Steinberg Forums
(50) How to Set Levels with the MetaNormalizer in WaveLab | Q&A with Greg Ondo - YouTube