It's way more lopsided than your example would suggest.

My understanding is that Netflix can stream 100 Gbps from a 100W server footprint (slide 17 of [0]). Even if you assume every stream is 4k and uses 25 Mbps, that's still thousands of streams. I would guess that the bulk of the power consumption from streaming video is probably from the end-user devices -- a backbone router might consume a couple of kilowatts of power, but it's also moving terabits of traffic.

[0] https://people.freebsd.org/~gallatin/talks/OpenFest2023.pdf