I recently discovered a couple of image tracing libraries for JavaScript that indeed are able to build an acceptable approximation to the bitmap, both size and quality. I'm developing this JavaScript library and CLI :
https://www.npmjs.com/package/svg-png-converter
Which provides unified API for all of them, supporting browser and node, non depending on DOM, and a Command line tool.
For converting logos/cartoon/like images it does excellent job. For photos / realism some tweaking is needed since the output size can grow a lot.
It has a playground although right now I'm working on a better one, easier to use, since more features has been added:
https://cancerberosgx.github.io/demos/svg-png-converter/playground/#