You're right. I trivialize the challenges, and I admit that.
However, my point is that it has been some fifteen years since 24-bit "True Color" arrived. Certainly since then we've increased computing performance to the point where we can manage to throw a few more bits around, yes?
Also, you're right that browser vendors are dutifully concerned about performance. In fact, one of the reasons I enjoyed adding a subtly animated background (see previous reply apologizing to those who hate it) was a bit of evidence to back up another point I've made elsewhere: in 2012 our computers that process billions of CPU operations per second paired with high-powered GPUs can still get chunky with relatively trivial 2D animation in a web browser.
Incidentally, on that point, if you happen to have IE 10, check out how well it uses your GPU to do CSS transitions. It doesn't do the SVG/SMIL animation used in the background, but I find it fascinating how effortless it executes the animation it does support: http://tiamat.tsotech.com/ie-10-is-no-joke
I'd really like to see Chrome and Firefox catch up with that degree of GPU acceleration.
But in this particular blog entry, I'm asking that some attention return to rendering quality. I'd love to see color banding in gradients disappear soon.