Even in this poorly made comparison shot I made you can tell the difference between streaming and "self hosting"
(lemmy.world)
Jack Ryan S3 E3
I wouldn’t call h.264 the current industry standard. It’s the smallest common denominator since more or less every device that’s capable of streaming video can decode h.264. However h.265 is pretty much standard for resolutions above 1080p. AV1 is nowhere near standard yet, though.