I worked with this team (and its predecessors) during my time at Netflix. They achieved several "holy grails" of video encoding: a perceptual quality metric (VMAF), optimal bitrate selection per 2 second video chunk, and then optimal video chunking to be scene based rather than a fixed 2 seconds. Doing any of that in a research lab would be a challenge, but pulling it off at Netflix's scale is epic.
You might need some background on how adaptive video streaming works to fully grok this article.
But this is also just a story about a massive refactoring of a large, critical system. How many companies have you worked for that aggressively pursued refactoring/re-engineering their central systems? At most other places, I've seen risk aversion, fear, and mismanagement conspire to kill innovation. Not so at Netflix.