DCT was developed in 1972 and has a compression ratio of 100:1.
H.264 compresses 2000:1.
And standard resolution (480p) is ~1/30th the resolution of 4k.
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I.e. Standard resolution with DCT is smaller than 4k with H.264.
Even high-definition (720p) with DCT is only twice the bandwidth of 4k H.264.
Modern compression has allowed us to add a bunch more pixels, but it was hardly a requirement for internet video.