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JPEG also reduces color depth as it’s first step but just in a smarter way. RGB is converted into YCbCr.
You’ve phrased this like a disagreement, but I don’t see how.
Although maybe I’m just so jaded, that people providing interesting tangentially related trivia are perceived as being hostile unless they announce that as their intent, because usually unannounced trivia is leveled as an attack.
It’s just extra information. Not an attack or disagreement.