Just as with JPEG2000, I'm still not convinced the additional complexity is worth it. There seems to be a lot of immature technologies being pushed in the past few years, when IMHO the Web should've stabilised long ago on the basics. But I guess people need things to do to keep them employed... and Big Tech needs to maintain its monopolies.
The old JPG/PNG choice had a big problem: JPG handles sharp edges, including text, badly. PNG produces huge photo files. Images containing a mix of both don't work well in either format.
By contrast, when using a modern format like WEBP or AVIF, a single encoder configuration produces decent looking results across a variety of input images.
At what year would you say the web should have stabilized on the basics?