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GIF is lossess iff the input has at most 256 different colors. That is the maximum color palette size and not sufficient for most cases.

That's not strictly true. GIF can have a maximum of 256 colors per block, but different blocks can have different palettes, and each frame is not required to fill every block, so you can build up images with more than 256 colors using a series of incomplete frames. https://en.wikipedia.org/wiki/GIF#True_color

webm & mp4 can deliver vastly higher resolutions at a fraction of the size of GIFs, though. So while a GIF is "lossless", that doesn't help when size dictates that the quality is still crap anyway.

It's more subtle than that.

Convert a video of black video to mp4 and gif, both will be lossless.

Whilst some gifs are not compressed it appears to be niche for them to not have been. Or for the creator of the gif to have not constrained themselves during the creation process.

Perhaps important for NFT creators. Whilst not overly concerning themselves with the resources involved, they shouldn't be troubled by file size either.