This may be an acceptable format for some electronic versions of scanned books, but it's not a "PDF Alternative".
Also PDF is an open format.
Also PDF is an open format.
Now that it is, there's probably no reason to use DjVu.
btw if you want quickly some random large scanned PDFs for testing, archive.org is a goldmine. For example here is a scanned 1200 electronics handbook: https://archive.org/details/NationalSemiconductorLinearAppli...
They also do DjVu, so you can see the size difference there. For that particular book, its 58M for the PDF vs 31M for DjVu. So basically half the size.