>>107055924 (OP)
It depends on resolution. The primary benefit modern video codecs is bigger macroblocks.
H264 = 16x16 max
H265 = 64x64 max
This is very important because the less "chunks" a video uses the better it compresses.
1080p video = 8100 16x16
1080p video = ~506 64x64
>>107057140
AV1 has now achieved 2 things:
Better compression than x264 slow
Faster encode speed than x264 slow
Also it achieves them at the exact same time which is batshit crazy when you think about it because all it really had to do was encode faster than x265.
https://desuarchive.org/g/thread/106327782
Anyway at least at 1080p and above, I think we can all agree that AV1 has made H264 and HEVC OBSOLETE.