Well, the value proposition of image formats are 1. transmission, which requires both sender and receiver to have the exact same model, which requires us to sta

Well, the value proposition of image formats are 1. transmission, which requires both sender and receiver to have the exact same model, which requires us to standardize on some model and ship it with everything until the end of time, and 2. archival, which would require storing the model alongside the file (which might more than counteract any data saved from improved compression) and would be highly fraught because, unlike existing decompression algorithms, it cannot be described in simple text (and therefore reimplemented at will), which risks making the file inaccessible and defeating the point of archival. It's a cool idea, especially for high-bandwidth, low-value contexts like streaming video calls, but I don't think it's going to wholesale replace ordinary lossy formats for images or prerecorded video delivery (and this is without considering the coding/decoding performance implications).