So yes, the answer depends most on whether you care about licensing. Both in terms of royalities and also implementations.
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[1] https://www.mainconcept.com/hevc - for the casual user most easily accessed by purchasing Adobe Media Encoder
I tested NVENC, X265, and DaVinci Resolve Studio’s H265 encoder.
x265 was best by far. What more am I missing on?
Now things like NVENC are even worse in terms of compression. Any GPU accelerated encoder trades compression efficiency for speed. Even x265 with the slowest presets will demolish any GPU encoder in terms of compression, including the MainConcept paid one when it's run in GPU-accelerated mode. This is unfortunately not explained in GUIs like Adobe tools. They just have a checkbox or dropdown to select GPU acceleration, but don't mention that it's not just acceleration - a different algorithm will be used that can't achieve the best compression.
GPU accelerated compression can still be very useful for scenarios where you need speed (e.g. have a deadline) or just don't care about quality (e.g. will publish it only on social media where it will be recompressed anyway). However when you have time to wait and want top quality, the slowest CPU-only code path will always win.
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[1] One good public resource is the Moscow State University page http://www.compression.ru/video/codec_comparison/index_en.ht... -- They do regular comparisons of various codecs and some results are available for free. A bit in HTML form and more in some of the PDFs. Deeper insights are unfortunately paid.
Seems strange that we have so much compute power in GPU, but no algorithms to use it well for encodes
AV1 is supported by almost all web browsers: https://caniuse.com/av1
And iOS Safari is arguably the most important browser at all since iPhones are disproportionally used amongst video content creators.
This is a huge plus in fansub anime scene. 10 years ago, majority of anime are in H264 (720p/1080p 8bit) which is normally 1±GB for each episode that are consist of 25 min. If I want to watch one anime, it will consume about 20 GB of space. Now, majority of them are in HEVC (1080p 10bit) which are about 300± MB for each episode.