It is just a spec on something widely implemented already.
Assuming Next gen PNG will still require new decoder. They could just call it PNG2.
JPEG-XL already provides everything most people asked for a lossless codec. If there are any problems it is its encoding and decoding speed and resources.
Current champion of Lossless image codec is HALIC. https://news.ycombinator.com/item?id=38990568
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