A battle of sorts is raging throughout the photography communities. Jpeg Vs Raw files as a final step is what the battle is about.
Raw files, I think by now, are known for containing a lot more data than a Jpeg file and to extract that data special software such as Luminar, Aurora, On1 Photo Raw, Alien Skin, now X4, and of course Adobe Lightroom. The data can be manipulated into whatever vision you choose. Whatever you do to get the image you want will not hurt the data in anyway.
Jpeg files are baked in. The camera software takes care of everything needed to give us an image and in most cases a very acceptable image that can be used with virtually no manipulation. In reality you do not want to manipulate Jpeg too much because it will degrade the data in the image.
Fujifilm X cameras happen to produce exceptional Jpeg files and it can do that with a variety of alterable film simulations for a variety of different film looks. They are pretty darn good. What I like is the fact that I can load a Jpeg file into most softwares and save that Jpeg as a preset to preserve the look the camera gave it with a film simulation and then apply that preset to the normally flat Raw file. It works and really makes final processing a lot easier. My favorite software for doing that is Alien Skin and Luminar 2018, soon to be 2019.
In this unique explanation of what they are and how RAW files work, see how they are the equivalent of the Emperor’s New Clothes,
— Read on digital-photography-school.com/raw-files-digital-manifestations-emperors-new-clothes/