Yes but I have found that if you "open in new tab" then it loads the page even though it is in the background. It should do as it does as startup but doesn't.
(Related: I'd also really like to middle-click video annotations to open them in a tab. No, I don't want to replace the current video with them.)
But recent performance improvements, especially the handling of many, many tabs has me looking at FF again.
The question was about videos in a background tab, which is controlled by the media.block-autoplay-until-in-foreground setting.
EDIT: I would agree with you in your assessment of the default behavior however, if it were the case, that most people only have a few tabs open normally.