Video on the internet has largely became a solved problem. Most devices with a video output ship with decoding and encoding accelerator chips. APIs, like the Vulkan® Video set of APIs, allow for direct access to them. Newer codecs are royalty free with open specifications, or become royalty free thanks to time, making support for standards accessible to more.
Few remember how much decoding 720p H.264 stressed out the majority of CPUs 18 years ago, or the optimizations, competition between software implementations, and the long road through which decoding in real-time was possible until decoding hardware arrived, and APIs were written.