There are basically three scenarios where I choose various compression algorithms (a few exceptions excluded):

- maximum compatibility (while tolerating low performance) - gzip

- great performance (while tolerating larger files) - snappy

- very good performance with good (not best) compression ratios - zstd

I don't really want to use Any New Shiny Algo to compress some data that might outlive this piece of software, that's why I use gzip very often, because I know I'll always be able to decompress it. But I've been increasingly adopting zstd and snappy for one single reason - they are becoming widely supported within the ecosystems I work in (data processing).

That, to me, is more important than compression ratios and decompression speeds.