Since you seems to be very familiar with that topic, do you know if most popular video chat applications stream voice and video directly between peer, or do they have to go through some central server? And if so, how much latency does that cost us?
WebRTC is direct peer to peer. There’s a reliance on a STUN/TURN server to provide signaling for things like NAT traversal but other than that it’s all p2p.
The answer might be a mix, if video conference involves more than trivial amount of participants.