Justin Tadlock has a good summary of the changes coming in WordPress 5.8 related to the media library.
Highlights: Infinite scroll replaced with AJAX button (which improves accessibility), “Copy URL to clipboard” button, WebP support, and
image_editor_output_format (for developers who want to transform images with one mime type to another).
I noticed the infinite scroll replacement right away in my beta testing, and I got used to it rather quickly. I think WebP support will help modernize WordPress in certain circles. It’s nice to see WordPress improvements in other areas that are not the block editor. 🙂