0xFF is 8-bit. PNG supports up to 16-bit. It always has. Plus, PNG now supports full HDR so the fireball won't look washed out.
I think your experience is with some tool that made bad PNGs. That is a problem with the tool, not the format.
EXR stores the color-space information differently, and you missed the point.
Have a look at a tutorial that dives into the basic details, and consider learning something:
https://www.youtube.com/watch?v=pLt1230dtYE
https://www.youtube.com/watch?v=mb0b83MML78
https://www.youtube.com/watch?v=egtnkhuUe_E
PNG has its use-cases, and some people do expect that baked color-space garbage look given it dominates a lot of low-end media. Have a great day =3
EXR stores the color-space information differently, and you missed the point.
Have a look at a tutorial that dives into the basic details, and consider learning something:
https://www.youtube.com/watch?v=pLt1230dtYE
https://www.youtube.com/watch?v=mb0b83MML78
https://www.youtube.com/watch?v=egtnkhuUe_E
PNG has its use-cases, and some people do expect that baked color-space garbage look given it dominates a lot of low-end media. Have a great day =3