Would've been great to see this happen five years, seems like it's largely irrelevant now with the prevalence of HTML5 video compression for short clips.
https://www.google.com/logos/doodles/2015/st-patricks-day-20...
Slight quality loss admittedly, but a huge bandwidth saving and I believe supported across all browsers now.
I'll admit however I didn't think about some other advantages of PNG (transparency for one), which would mean it was more suitable in some situations.
The same thing with animation/video.