You have to admit it's a little funny that if PNG's one goal in life was to replace GIF, they chose to not support the one thing GIF is used for today.
You had one job PNG. One job!
You had one job PNG. One job!
The design of PNG started in January 1995 and PNG 1.0 was published in October 1996. Netscape Navigator added animated GIF support in September 1995, and if I remember correctly, it wasn't immediately used at large scale. Anyway, by that time, the PNG team had IIRC already decided to put animation in a yet-to-be-designed MNG.
None the less, a funny end result.