>unquantised -> FP8 is pretty much lossless

Claude Shannon is rolling in his grave.

I don't know, sounds quite similar to his rate distortion theorem (analyzing minimum number of bits/symbol you need to stay under some fixed amount of distortion). I.e. lossy compression with a maximum amount of loss. I.e. "pretty much lossless" compression.

https://en.wikipedia.org/wiki/Rate%E2%80%93distortion_theory (