Earlier quoted context omitted.
Everything about JPEG XL sounds great, except that it takes about 34 times longer to encode an image compared to PNG. Edit: Apparently there's an experimental faster version: https://github.com/libjxl/libjxl/tree/main/experimental/fast...
If it takes that much longer to encode then I am guessing it takes a lot longer to decode as well which I am going to guess makes it completely out for image sequences, film archiving, VFX work, high end photography, etc etc.
The time spent by high quality encoders is generally trying different settings to find optimals... decoding should be unaffected.