to be fair, I have a fairly large iTunes purchased back-catalog of tv series and movies - when I go to view the index of them on a gigabit network, it takes more time than I would expect it to. latest appletv.
but, if I hit play, it's instantaneous and I'm surprised at the quality (plus they've upgraded a ton of my purchases to 4k when I bought them at whatever I could)
if I contrast that to local plex, the plex meta-data is instantaneous, but I find it amusing that the appletv videos start more quickly.
plex îs local cache, usually still in memory, apple is building my stuff from legacy iTunes data that I doubt they cache forever for me.
that said, I think I'm ok with the tradeoff for the most part.