A new PNG spec

Not backwards compatible. We just add it to that nice cupboard "great advanced image formats we will forget about".

Society doesn't need a new image format. I'd wager to say not any new multimedia format. Big corporate entites do, and have churning them out at a steady pace.

Look at poor webp - a format pushed by the largest industry players - and the abysmal everyday use it gets, and the hate it generates.

There's a big issue that all old popular image formats are 8-bits. 10-bits or even 12-bits would help a lot with storing more information and maintaining editability.