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 main use case for PNG is web browsers and all of them seem to be on board. Using old web browsers is a bad idea. You do get these relics showing up using some old version of internet explorer. But some images not rendering is the least of their problems. The main challenge is actually going to be updating graphics tools to export the new files. And teaching people that sRGB maybe isn't good enough any more. That's going to be hard since most people have no clue about color spaces.
Anyway, that gives everybody plenty of time to upgrade. By the time this stuff is widely used, it will be widely supported. So, you kind of get forward compatibility that way. Your browser already supports the new format. Your image editor probably doesn't.