HEIC and JXL with transparency are already converted to WebP instead of JPG, and I considered using it always, but this would require adding a myriad of site settings to allow admins to fine tune behavior which gave me pause.
Same here.
Ideally, I would love us to empower admins with settings to control image compression on both the client and the server side, while still shipping sane defaults, and even allow end users to opt-out of compression just-in-time via a composer upload modal options, like Telegram and Whatsapp do, but there is no appetite internally for that work.