@kkthompson JXL is state-of-the-art for lossless, but I don't think actual true lossless is useful on the Web. It's for editing, not publishing.
People usually say they want "lossless" when they mean they don't want JPEG-like smudges, but that's a false dichotomy. It's possible to have blur-free perfectly sharp edge-preserving lossy compression, and AV1 supports it via palette-based blocks.
@kornel, but that’s what I mean by JPEG XL being optimal through the entire image pipeline. Working with the images locally may require lossless before publishing to the web. It’s great that one format handles it all.
But there are lots of times when lossless is what you’re after. I just had to optimize 250 logos for a client for their website (their clients). 60% SVG, the rest PNGs. Lossless conversion to WebP saves ~60% from PNG. JXL is closer to ~80%. AVIF is only ~45%.
@hsivonen Unfortunately I can't help you with HDR, I haven't looked into HDR color spaces yet.
I suspect rav1e has a bug in allocation of luma vs chroma bitrate, and doesn't support palette blocks. If you're evaluating AVIF, use libaom or svt-av1.