You are better off with PlayCanvas and BabylonJS.

WebGL 2.0 is stuck in 2011 hardware, something like Unreal is overkill.

No wonder they decided to use pixel streaming with server side rendering instead.

Our venture backed startup is actively working on integrating web support back into Unreal Engine, as we see a huge opportunity for a easy cross-platform export target for developers.

We're working on a WebGPU backend right now for both UE4 and UE5, and have already upgraded UE4 to support WebGL 2.0 from 4.24-4.27, as support for HTML5 was removed back in the 4.23 release.

Another major innovation is we've imported a more improved compression format (Basis) as part of our pipeline, we've also created an asynchronous set fetching that only grabs the required data that a user needs to see at any given moment, streaming the rest of the assets in the background as necessary. This dramatically reduces load times, which was one of the biggest complaints with Unreal on the web previously.

Website for more info - https://theimmersiveweb.com/

Our Discord: https://discord.gg/cFJV6Yu

Conjecture 1) unreal is overkill for web and I feel ue5 is more, you can make a 500mb web game, but I don't play it 2) web makes no money, except in China, but point 1 still applies

As mentioned, official support was dropped and the community supported extension hasn't been updated in ~2 years. If you need to target WebGL, then Unity is a better bet.

The HTML5 target has been deprecated for several versions now.