Earlier quoted context omitted.
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.
It may take less time actually since it can be parallelized. PNG's big problem is it's serial.
[1] https://www.hackerfactor.com/blog/index.php?/archives/895-Co...