That's pretty depressing to read. x264 was handling the encoding side with sub-frame latency 15 years ago, and sub-frame decoding is significantly easier. "with –tune zerolatency, single-frame VBV, and intra refresh, x264 can achieve end-to-end latency (not including transport) of under 10 milliseconds for an 800×600 video stream"

But for some reason you can't make use of that and have to burn bandwidth instead.