Some reports is that is saves space by half. that’s a LOT of bandwidth. And for storage? It’s cheaper now but as storage and bandwidth increases, so does the size of media. Higher def images and videos can now be easily and quickly shared so they are. Being able to decrease most images by half is an insanely huge advantage.

You’ve yet to suggest a convincing disadvantage other than a lack of support. This will be a problem with anything new until it is widely adopted.

You could argue it is a small advantage, but you cannot say it is not an advantage.

I would contend the advantage is actually quite significant. From time to time I am inside some building with poor cell service, causing images to take longer to load. 26% smaller images would load noticeably faster in these poor conditions

Bad analogy. That required hardware and factories to make it. I have several programs that deal with webp already.