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The compression to quality ratio of webp is amazing, especially webm. Some instances have this conversion happen upon upload would be my guess to save a crazy amount of space.
Webm is just a video container, not a format. WebP uses quite outdated image compression from the VP8 video codec, which may perform quite a bit better than JPEG at very low quality, but at near-transparent quality, which images are usually encoded to, it very often doesn't even beat JPEG.