What if it's a photographers portfolio? An art collection site?
Sometimes images make sense.
But nobody waits longer than 8 seconds. That's the golden webdev rule for ages. Anything above deserved to be punished.
Art collections are easy to develop with icons and progressive images.
Pages that should be heavily penalized are those with lots of extraneous JS, bloated CSS files, lots of auto play videos, and huge image files that are supposedly created by “experts” that need a DevOps team to deploy and distribute all the bloat.