WPC refers to "wood plastic composite" but oddly enough, there are very few WPC floors that contain any wood. Most are constructed of rigid solid plastic composite or stone plastic composite (SPC) cores. The key distinction between WPC and conventional Vinyl Plank is the addition of the rigid core.
The short answer is WPC floors are, like laminate flooring, super durable, easy to install and economical! But there is one big distinction - they are waterproof.
Also, WPC hides subfloor imperfections better than Luxury Vinyl Plank. Ordinary LVP flooring is constructed of 100% virgin vinyl but does not have the rigid core. This rigid core is beneficial when the existing subfloor has imperfections, so it cuts down the time and cost of subfloor preparation during installation. If a subfloor is not sufficiently smooth, imperfections may telegraph through the LVP over time.
WPC floors look great - on par with most laminate flooring. Some laminates may still have a visual advantage with edge details (the bevel) and deep embossing techniques.