A few megabytes in a download that is fetched by thousands of times adds up very quickly and can make a dent in limited hosting budgets. That said, the Qt release libraries do compact well in the average Windows deployment system (Linux etc. compression is similar/better). If you use UPX on the libraries first then the distribution archive will not compress them further but they will retain a reduced installed size (at the slight expense of performance).
You also need to be aware that WebKit is licensed under the LGPL only. This has effects for static linkage in commercial projects (regardless of whether you have a commercial Qt licence).
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