That's too bad. WebP was a bad idea released several years too early, now it's stuck with VP8 and the only color format is 8-bit 4:2:0 which is just not good enough. Please don't use it.
> Even 4:2:0 is better than the sRGB usually used in PNG.
Better for what? Not for wide-color photographs or any kind of colored text, that's for sure.
https://9to5google.com/2018/09/14/youtube-av1-video-beta-chr...
I actually don't think this about other formats - for instance MP3 is 25 years old and I think it's just fine to support it. It's patent free and its quality limit is all you need for many applications.
This isn't true for VP8, our eyes are just harder to please. (And On2 was never the best codec developer…)