Media Player in 2025?

How come there are apparently NO real Video Players?
Everyone onthe internet still uses V1C or MPC which are inherently still 20 year old software (of course they got updates for compatability and such).

How is there no real Media player with basic features and a sleek 2020ish design?

Windows 11 comes with 2 different Media players (which is already weird)

And they are both **bleep** because they cant play 50% of the file formats and codecs and want you to pay money for a single codec expansion which V1C provides for free for 20 years.
V1C is getting really slow now and this all just seems weird.

Only new one I found now is KMP1ayer, but it has a paid version which is a little sketchy with Coins (I think some form of crypto) which you receive?

I would appreciate recommendations which start up fast and dont load 5 minutes to start (Its not my PC :D)