You're still going to want to transcode to different formats and resolutions: h264, h265, AV1, HD-I, HD-P, etc. Basically what Google does every time someone uploads.
But I suspect they have other workloads they want handling. It easy to imagine them wanting to do some near-realtime crunching of the logs because the Netflix client generates oodles of data,
Biting the hand that feeds IT
