Why the two formats are not interchangeable
WebVTT and SRT look alike at first glance, and both describe captions as a list of cues with a start time, an end time and some text. The differences are small but strict. A VTT file begins with the word WEBVTT on its own line and uses a full stop before the milliseconds. An SRT file has no header, numbers every cue, and uses a comma in the same place. A player that expects SRT will usually reject a file that starts with WEBVTT or silently show nothing.
VTT also allows things SRT has no place for. Cue settings such as position and align after the timing line, NOTE blocks for comments, STYLE blocks with CSS, optional cue identifiers before the timing, and voice tags like <v Anna> that name the speaker. The converter removes all of these so the output is plain SRT that any tool will accept. The speaker name from a voice tag is dropped rather than written into the caption, because most SRT consumers would show it as part of the dialogue.