I love webp. I founded one of the mid 2010's "photo backup and rediscovery" startups. Webp let us offer free unlimited photo backup at the iPhone resolution of the time (iPhone 6: 8MP). We hosted billions of photos for free, and paid for it all with a sub 1% conversion rate to $5 a month for untouched jpegs. It was profitable. We had to have a few dozen auto-scaling image conversion servers for browsers that didn't support webp, but 95% of users used our apps which supported webp, so it was fine.

I'd probably go avif/jpegxl today, but webp was ahead of it's time.