Originally because WavPack was a symmetric codec that is it was as hard to decode as to encode.
Where as FLAC has always been asymmetric that is to say it's very computationally easy to decode but hard to encode.
WavPack now has an asymmetric mode but I'm not sure how it compares.
I just did some some comparisons using the latest Foobar2000 encoder pack from 2022-02-02 (didn't spot the asymmetric option though, maybe I'd have to update Foobar 1.5.7 as well). CPU is an i7-11700 (x2 tau boost, PL1/2 65 / 224 W, actual turbo clock seen 4.7 GHz).
FLAC 1.3.4 -5: encode ~460x, decode 1375x
WavPack 5.4.0 normal: encode ~290x, decode 373x
WavPack 5.4.0 fast: encode ~335x, decode 504x
File sizes for 48:52 worth of 44.1 kHz, 24 bit stereo audio were pretty much identical for FLAC -5 vs. WavPack normal, 561 MB in this case. Source audio was all in one file, so just one encoding thread, same on the decoding side.
This seems to align with
official published results (with my machine being about twice as fast as a C2Q T9600 for this particular workload), except that FLAC decoding is
even faster. It seems hard to make the case for WavPack if FLAC is faster even on the encoding side, unless you absolutely need on of its niche advantages.
Incidentally computational requirements is why Apple created ALAC they needed something relatively easy to encode for a fair compression ratio because they were doing it in real-time for Airplay 1 on low end hardware. None of the existing formats met their requirements so they invented a new one.
Interesting. Clearly much different objectives than FLAC, where the rationale was only having to encode once on fast hardware and saving computing power decoding on what might be mobile devices.