That's because WebP focused so strongly on being a GIF equivalent that it also dropped all things that made WebM efficient and instead adopted GIF's awfully inefficient architecture (just dumb frames overlaid on top of each other, without motion vectors or predicted frames).
Safari shows how it can be done: it supports silent MP4/H.264 straight in <img>. You get all the ease of use GIF, order of magnitude smaller file, and hardware acceleration.
It's unintuitive, but well-compressed videos are cheaper to decode than dumb "animation" formats, because file size differences are so massive that it's cheaper to decompress a small amount of complex data than to chew through vast amounts of poorly compressed data.
Also worth noting that all the alternative browsers on iOS are just reskinned versions of Safari as well.
https://caniuse.com/#search=animated%20png
Edit- I was unaware the recently-announced Safari 14 Technical Preview adds support for WebP too! Making both formats viable for all browsers, finally.
Update: nope. Maybe another year :(
Or let me rephrase, why is WebP as a animated picture / video format insufficient?
Then, there's optim being made in WebP to allow fast jump to keyframe, even when there's transparency. Video codec don't allow that, and you can have an arbitrary long torture sequence of transparent frame that needs to be decoded back when the video comes in the view again.
Last, animation are usually low-fps (~10fps): there, video codec don't perform very well and are basically keyframes. So the difference isn't as great as one would think.
Oh, and hardware need a 'reset' between decoding tasks, to reconfigure memory, and decoding can't be parallelized.
<video autoplay muted> says the same thing.