@newt @matrix 12 Mbps of h.265 would probably look pretty good depending on encoding settings. However, if you get a scene with a lot of detail and movement like a fight scene in Godzilla vs. King Kong it wouldn't be enough for 4K and you'd lose a lot of detail and possibly even get some artifacting.
Digital cable TV is even worse. I swear their encoding settings are h.264 CBR 2500k with the ultrafast preset. It looks okayish for stuff like Law and Order but if you try to watch sports or an action movie there are artifacts all over the place. And this is just regular cable TV these days.
Normies just don't seem to notice tho.