The ultimate answer depends on your priorities. For a drama on a laptop where storage is at an absolute premium, it can be a usable trade-off. However, for an action movie on a large 4K television, the experience would be disappointing. With the widespread availability of affordable external storage and faster internet connections, the practical need for such aggressive compression is shrinking.
Most 500MB movies are usually 720p or 1080p in name only . While the pixel dimensions might be 1920x1080, the (data per second) is crushed. 500mb movies