Opus files do not open in many music apps, editors or hardware players. WAV is uncompressed, so audio editors and transcription tools accept it without fuss. OPUS is at home in voice and music at low bitrates; WAV is the usual choice for recording, editing and mastering. WAV cannot bring back detail that OPUS compression already removed; it simply stores the result without further loss, in a larger file.
The defaults suit most files. Under Options you can trim the start and end.
The conversion uses your browser's own video and audio codecs (WebCodecs), with hardware acceleration where the device has it; the file is read from disk as it goes and can be up to 2 GB. Where the browser lacks a codec, the page falls back to the compatibility engine.