Oh sweet, now I can look forward to "compiling shaders..." on every website I visit!
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More seriously, I'm definitely curious to try this out on some of my weird computers. Sometimes vulkan support is noticeably more capable than other modes.
There are fairly mainstream devices with decent Vulkan support but poor hardware decode coverage for the codecs people actually get on the web. Polaris era Radeons have H.264 and HEVC decode, but VP9 support is absent (or not exposed in many common Linux paths) so YouTube is sloppy. The Raspberry Pi 5 is another example: it has hardware HEVC decode, but YouTube 4K is generally VP9 or AV1 rather than HEVC, and Pi 5 does not advertise VP9 hardware decode.
Vulkan Video is about exposing the GPU's hardware encoding/decoding functionality through the standard Vulkan API, not about implementing the codecs through shaders.