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PNG is back!
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It's fine if you're using it for what it's intended for, which is images with flat color or an ordered dither.
It's not great for compressing photographs, but then, that wasn't what it was aimed at.
Similarly, JPEG isn't great at storing flat-color lossless images, which is PNG's forte.
Different tools for different jobs.
JPEG isn’t, but JPEG-XL, on the other hand, has come into existence and has great compression while being pixel-perfect lossless as compared to PNG (among a host of other improvements).
If only it got the support it deserves (thanks Google for making that harder)