The feature nothing else has
JPEG XL can take an existing JPEG and repack it roughly 20% smaller, losslessly — and then reconstruct the original JPEG file byte for byte on demand.
That is a genuinely unusual property. Every other modern format requires decoding your JPEG and re-encoding it, which means a second lossy pass and irreversible change. JXL transcoding introduces no generation loss and is completely reversible.
For anyone holding a large archive of JPEGs, that is a compelling proposition: a fifth off the storage bill with no quality decision to make and no risk of regret. It is the single strongest argument for the format.