My top use case for preact was when I needed to embed code into customer’s sites and wanted it to be as lightweight as possible since it was one of my selling points. Think embedded systems but in a web context (like injecting a web form in the middle of an existing page or a modal, completely independent of the rest of the page)
Another example, you know those UIs that might drop down when you click on a chrome extension icon? No need to use react for a simple extension drop down.
If you’re building a 1st party platform or webapp then react makes more sense. But there’s clearly usecases for React-lite.
Regardless, preact core is boring and stable (like 5 years old). I built a multi-million dollar company on it previously for what it’s worth.