This worries me. Because presumably, changing the compression algorithm will break backwards compatibility, which means we'll start to see "png" files that aren't actually png files.
It'll be like USB-C but for images.
The PNG format is specifically designed to allow software to read the parts they can understand and to leave the parts they cannot. Having an extensible format and electing never to extend it seems pointless.
This proves OP analogy regarding USB-C. Having PNG as some generic container for lossless bitmap compression means fragmentation in libraries, hardware support, etc. The reason being that if the container starts to support too many formats, implementations will start restricting to only the subsets the implementers care about.
For instance, almost nobody fully implements MPEG-4 Part 3; the standard includes dozens of distinct codecs. Most software only targets a few profiles of AAC (specifically, the LC and HE profiles), and MPEG-1 Layer 3 audio. Next to no software bothers with e.g. ALS, TwinVQ, or anything else in the specification. Even libavcodec, if I recall correctly, does not implement encoders for MPEG-4 Part 3 formats like TwinVQ. GP's fear is exactly this -- that PNG ends up as a standard too large to fully implement and people have to manually check which subsets are implemented (or used at all).
Regarding the potential for fragmentation of the png ecosystem the alternative is a new file format which has all the same support issues. Every time you author something you make a choice between legacy support and using new features.
From a developer perspective, adding support for a new compression type is likely to be much easier than implementing logic for an entirely new format. It's also less surface area for bugs. In terms of libraries, support added to a dependency propagates to all consumers with zero additional effort. Meanwhile adding a new library for a new format is linear effort with respect to the number of programs.