After a user complained that they could no longer load partially transparent PNG images in my photo compositing app, I eventually tracked this down to a bug in iOS 15.1 (tested on beta 2).
When the user selects a PNG image in the PHPickerViewController, the returned NSItemProvider reports having a file for the "public.png" UTI (and only that one).
However when requesting data for that UTI, the system actually returns JPEG image data instead.
Just a heads up to other developers who might run into this.
Hopefully it will get fixed before 15.1 ships. I reported it as FB9665280.