If anyone at a browser development company is reading this, vector image formats are more in need of disruption than raster image formats, SVG is versatile but it's bulky, a more compact vector image format would be welcome, especially in the age of responsive design.
That said, some technology standards can stick around far beyond what they should. MP3 is a classic example, there are far better music formats than MP3 (you'd be hard pressed to find a worse one that's still supported), but because of the sheer volume of music in that format, the 'good enough' status, and the limited abilities of some of the hardware players to handle better formats, we're stuck with it. This isn't something we should seek to encourage, but it does happen.