Yes exactly, nothing new is unlocked. So why would I use this format? Was the old size of the images preventing me from enjoying them in any way? No. Of all the old JPEGs out there that absolutely must be losslessly transcoded from the already lossy JPEG encoding, how many are prohibitively large? You can still look at both a JPEG and JPEG XL image locally. Most likely you'd be able to serve both images over HTTP, although the JPEG image may take a bit longer to load. And how many cases require the new and old images be exactly the same? My point is that, if the main selling point of your codec is that you can create the same thing as 30 years ago only smaller, then it's going to be a hard sell compared to other formats out there. If the choice was between JPEG and JPEG XL, then sure, let's use JPEG XL. But the choice is between JPEG XL and other formats with better features.
Other image formats like AVIF add new features that enhance images. Yes, the images are smaller, but also way more powerful. Image sequences, for instance, enable new features like "live images." Converting your old JPEG to a smaller JPEG isn't going to magically enable live images.
tldr: I'm looking for a reason to care that I can losslessly re-transcode my old JPEGs. Ok, the re-transcoded images are smaller and exactly the same as before, but what is a real world reason why I would need that vs. using the old JPEG directly or re-transcoding it to AVIF?