The bug is in the codec library, and WebP has implementation monoculture, so everyone uses the same library, and everyone needs to patch.
3. Google tried to make WebP a thing 10 years ago, but it didn't get much traction, since it was Chrome-only for a long time. It never got properly standardized (it is open source tho). It compresses low-quality images better than JPEG, but tends to blur and smear colors in higher-quality images.
Ironically WebP became widely supported at the same time when it became technically obsoleted by AVIF and JPEG XL.