I think the point was that like SVG, MNG has the ability to transform existing objects in order to compose an image.

See this example[1] for illustration.

[1]: http://www.libpng.org/pub/mng/spec/#example4

> Link [1] doesn't seem to mention svg or vector graphics at all.

They specifically called out that it doesn't support vector graphics, so the latter shouldn't be a surprise.

And if you want to check if it's like SVG but worse, you need to compare that spec with the SVG spec, not look for the word SVG.