We actually worked on a demo WAV compressor a while back. We are currently missing codecs to run the types of predictors that FLAC runs. We expect to add this kind of functionality in the future, in a generic way that isn't specific to audio, and can be used across a variety of domains.
But, generally we wouldn't expect to generally beat FLAC. But, be able to offer specialized compressors for many types of data that previously weren't important enough to spawn a whole field of specialized compressors, by significantly lowering the bar for entry.
So OpenZL is significantly better than zstd, but worse than flac.