I collect and rip Blu-Rays. Whenever I buy something big (like a complete TV series box set), it usually means my 5900x will be churning away in Handbrake non stop for a few days straight. It makes my basement a bit toasty.
Video compression has improved a ton since the introduction of Blu-Ray in 2006. I can cut the average size of a 45 minute TV show from ~8-10GB on the disc to ~2GB with minimal or no perceptible quality loss. This makes a huge difference when I go to load up my iPad with movies and TV shows before I travel.
I do not bother re-encoding anything on a 4K disc, I just rip them straight to my NAS and strip out foreign audio and subtitle tracks.
And AV1 is a whole 'nother level past that... minutes per frame basically. But great size/quality.
Just as a casual observation, you should look at hardware AV1 encoders once they come out, because they'll beat software HEVC with a hardware (read: fast) encoder. Of course you also have to have support in the devices to play it back... which can be a problem with HEVC as well.
Seeing as the M2 and A16 both still lack AV1 decoders, I might be waiting a little while, which is fine since it gives encoders and processor speed more time to catch up to the speeds I currently get with x265.