720p is half the size, so it should be half that rate = 4 Mbps.
I have no doubt that modern image compression algorithms can bring that down a bit further without too much impact on quality.
So with a median of 7.2 Mbps, that's probably enough for 2 users to have an acceptable video conferencing experience. But if that's the median, then half of their customers have a lower upload speed than that and may only be able to get away with a single user streaming at a time.