Rendering a Sphere on a Quad
bgolus.medium.com
bgolus.medium.com
If you liked this, I suggest you look at Fortnite: https://www.shaderbits.com/blog/octahedral-impostors
However, let me point out a very big gotcha with this technology: Usually, outputting a custom z-depth will disable any sort of early z-culling in the GPU. That means the performance hit of drawing this might be huge, and even more costly than drawing the high-res models if screen coverage is large enough. That's why game engines will usually run a skybox pre-pass to get a stencil mask on where imposters might be needed and then only render there.
So you likely pay the full rendering price for an impostor, even if it completely invisible.
As for disabling early Z culling when drawing the impostor, the section titled "Fragmented Depth" covers this problem, and the solution. https://bgolus.medium.com/rendering-a-sphere-on-a-quad-13c92...
I agree that impostors are great for far-distance background. But I would never use them for anything too close to the camera. So in a sense, impostors are the new skybox.
Mobile is an issue, yes. Though curiously sphere impostors were first proposed for use with and implemented using GLES 2.0 for a significant performance and quality improvement in drawing thousands of spheres for molecular rendering. It all depends on what your use case is.
Also hardware with Shader Model 5.0 support came out >10 years ago now. There aren't a lot of desktop computers still using hardware that don't support it.
Even as a game dev myself, I'm still constantly amazed by the witchcraft that the rendering experts do.