PNG is not overbloated, it is an amazingly versatile, free and open image format.
It can offer lossless compression, jpeg offers huge compression, at the cost of huge quality loss.
PNGs can of course be tweaked to be much "lighter" files, tweaking compression method and level.
And after all, in this case it might be justified to use a high quality format, since he is showing a hard work in his skins, not just a funny "Bernard" screenie or torpedo shot.
My 2 euro cents.
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