PNG files only have lossless data compression, so what you are seeing is not due to PNG compression.
What you are seeing reflects that fact that the original signal varies in wavelength more quickly than the wavelength resolution of the camera. It is the wavelength equivalent of a sound that has bursts that are shorter than the audio sampling rate, akin to trying to record a 10 kHz signal on a channel sampled at 8000 samples/s (which would be able to resolve 4000 Hz). Some portions will just not show up, and some will show up by gross distortions of what you can see.
Wavelength is the inverse of frequency, so given amplitudes at particular wavelengths (potentially equally spaced) you can transform the values into amplitudes at particular frequencies (which would not generally be equally spaced) and then you could do interpolation to fill in more of the spectrum. An inverse Non-Uniform FFT (NuFFT) might figure into it somewhere. But this will not create information, just smooth out the presentation.
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