was slightly at a loss in what exactly needed to be shown here until i clicked the link and came to the conclusion that you re-invented(?) pacing.
that is certainly an interesting economical optimization problem to reason about, though imho somewhat beyond technical merit, as simply letting the client choose quality and sending the data full speed works well enough.
addition:
i totally agree that things have to look economical in order to work and that there are technical edge-cases that need to be handled for good ux, but i dont't quite see how client-side buffer occupancy in the seconds range is in the users interest.