It's not the file size but the memory usage.
Compressed PNG 8bit or JPG don't use much filesize, but once they load into memory as a texture, they become massive. A blank 1280 x 720p sprite for example, is probably a 1kb JPG, but its actually a 16MB texture in memory due to being placed into 2048 x 2048 texture.
My Ninja game is only 17mb exported but CocoonJS loading all the assets into memory = 450MB into ram on start, crashing devices with 768MB or less ram.
Are there any decent methods to cut down on the memory usage of pngs? That's what all of our images are.