Eh...not really. At the software level we can largely add support for webp by adjusting one line of code in a central library.
/**
* @brief Image Extensions
*/
public static $imageExtensions = array( 'gif', 'jpeg', 'jpe', 'jpg', 'png' );
Adding video support to areas like cover photos and profile pictures requires going through those form helpers, tagging which file extensions are allowed, then adjusting the HTML output to be conditional on the top of file (i.e. <img> tag for pictures and <video> tag for videos, although the reality is we use background-image for cover photos so it's not even quite that simple).
It's two separate requests, trust me. 😉 That isn't to discount either suggestion either.