Unless it is some spectacular series, I go for the 1080p HEVC releases because the quality is high with a much smaller
file size. For a time, someone was posting AV1 releases, and those were really great, super quality. I rarely do H.264
anymore unless that's all I can find.
The quality of any encoding makes can make a huge difference but it's clear the potential for 265 superiority over 264 is a given. The quality of any encoder's work is the biggest variable. I have ZERO problems with 265 as a codec. Someone whining out it without providing any factual information is pretty telling.
My only "issue" with 265 here is that it seems to be used for mainly smaller file sizes. I have a larger screen so I want a bigger denser file and I prefer 2160 but usually have to settle for 1080p. Sometimes that's not available and it's 720. But I see the case for smaller files. There just not for me.
A good cap in 720 is acceptable for shows I'm not going to keep but having a nice screen makes watching a smaller file in size and resolution more of a chore than a joy. Big files sizes are no guarantee of superior quality, but they win more often than not.