All beloved Trump:

280K trump.ff.bz2

516K trump.ff.gz

304K trump.ff.xz

360K trump.png

32K trump.jpg

Using a more complex langscape image:

175M coast-hdr.ff

42M coast-hdr.ff.bz2

83M coast-hdr.ff.gz

39M coast-hdr.ff.xz

6.5M coast-hdr.jpg

52M coast-hdr.png

Does not look that bad to me compared to PNG.