4 bit is fine
conditional to the task. This condition is related to the level of nuance in understanding required for the response to be sensible.
All the models I have explored seem to capture nuance in understanding in the floats. It makes sense, as initially it will regress to the mean and slowly lock in lower and lower significance figures to capture subtleties and natural variance in things.
So, the further you stray from average conversation, the worse a model will do, as a function of it's quantisation.
So, if you don't need nuance, subtly, etc. say for a document summary bot for technical things, 4 bit might genuinely be fine. However, if you want something that can deal with highly subjective material where answers need to be tailored to a user, using in-context learning of user preferences etc. then 4 bit tends to struggle badly unless the user aligns closely with the training distribution's mean.