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.

> and the abysmal everyday use it gets

Estimates are that 95% of Internet users have a browser that supports WebP and that ~25% of the top million websites serve WebP images. I wouldn't call that abysmal.

5% of people can't view them, yet 25% of top websites use them?

In what other industry would it be considered acceptable to exclude 5% of visitors/users/clients?

I can tell you, I have personally worked with a global corporation and we estimated that for one of their websites, supporting the 3% that we exclude by using “modern standards” would be more costly than the amount of revenue they get from them. So in that case, it was a rational decision. And up to the 10% cut, management just didn’t want to do the extra investment. So if something falls below that 10% threshold, they just don’t care to get it fixed.