There are a lot of meaning of preloading as you an preload resources, images, fonts and more now within your browser. With Dev.Land we tried all of them we found the best use of preloading is to identify the images on the page rendering and tell the browser about the image before the request to load the image which in doing so allow the image to be preloaded via the browser and can speed up CLS, the bounce of an image loading into a box, and the LCP which is the length of time the page takes to load in all the resources.
Once you have preloaded an image the page should load much faster, but loading in smaller optimized images also helps as there can be lower internet speeds on a mobile connection.
Being able to tell the browser about images early helps as this will speed up your website.