It's not representative of the performance of JPEG becasue You typically don't encode JPEGs at that bit rate.
It's basically taking advantage of the fact that JPEG dips first. http://article.sapub.org/image/10.5923.j.ajsp.20120205.04_01...
Also be wary of things that report compression rates rather than bits-per-pixel. You can get the same image quality at 200:1 if you start with 48 bit colour, The bits per pixel would be the same but if your original data is excessively precise you can throw a lot of it away at no perceptible cost.
JPEG is the appropriate comparison, as the authors are solving the same problem as JPEG tries to solve (i.e. a good enough lossy compression for natural images).
You're right that PNG does well on pictures with only few colors like diagrams but who knows how the edge-detecting PDE format would do, it might compress just as well with the same quality.
So I look at PDE and notice that its few points and colour contours bear a lot of similarity to a basic vector format. I wonder if a simplified vector format that utilises tracing combined with blurring effects would best PDE.
For a vector to encode a sky gradient you would have to have a shape and a specific falloff that blends into another shape and falloff to create the gradient.
The big idea is to describe the image intensities as a continuous surface which can be approximated in 3+ dimensions, not a patchwork of vector areas.