Having lived through the MP3 era and experienced the many years/decades? that it took for experts across fields to come together and figure out LAME and the bag of parameters that ultimately made it better than most audio formats around it, I would lean towards waiting this one out, and not take any announcement of a "winner" as gospel. We've yet to see the codecs mature and refine for some time.
I also remember the big claims about WebP's superiority, which ended-up in practice, at equivalent file-size, mostly trading away some of the JPEG artifacts that we all know for some unusual new ones.
I don't think there's a large-enough margin in this space that a new format could chew into to make the general public care: image compression seems like a solved problem overall. The second best thing is to come-up with a format that can make the content producers not have to care either, i.e. be the best in class or close-enough in a variety of use-cases (lossy, lossless, fast, animated, hdr, progressive, …). My naive impression was that jxl is mostly interesting in that regard.
> I don't think there's a large-enough margin in this space that a new format could chew into to make the general public care
What improvement do you think is necessary for people to care?
Genuinely curious. Spoiler link with my answer to avoid any bias: https://lgms.nl/p/cau/?b64&ZVRNb9QwEL0j9T%2BMKqFtpe1Cqcq9qoT...
Another interesting niche is in between JPEG and RAW. RAW files are a pain to deal with, but editing JPEGs can be problematic due to bit depth and whatnot. Personally I just want to shoot pictures and not edit/convert/whatever, but sometimes I have a shot that could benefit from a bit of adjustment, and that's where even large JPEGs have an issue. Bit depth and whatever isn't suitable.
Regarding real-world use of WebP - what makes it much worse, in my experience, is that so many web servers are set up to do a lossy conversion to WebP from the original file, most often JPEG (to cut down on bandwidth, or just to satisfy a web speed report originating from Google and therefore pushing Google's technologies). The difference is often very noticeable, e.g. textures smoothed out of existence. Helps to remove WebP from the Accepts header to force servers to serve the original.
It means the technical differences between format, and the real-world choice of which file you want, don't match.