From some experimenting, I think the exact number is between 117000 and 118000 (thanks to @richardsc for the motivating example!).
set.seed(123)
N <- 1e6
t <- seq_len(N)
x <- rnorm(t) + sin(2*pi*seq(0, 86400, length.out=N)/(12.4*3600))
png("file-png.png")
plot(t, x, type = "l")
dev.off()
#> quartz_off_screen
#> 2
grid::grid.newpage()
grid::grid.raster(png::readPNG("file-png.png"))

ragg::agg_png("file-ragg.png")
plot(t, x, type = "l")
dev.off()
#> quartz_off_screen
#> 2
grid::grid.newpage()
grid::grid.raster(png::readPNG("file-ragg.png"))

Created on 2021-04-24 by the reprex package (v0.3.0)