I guess it really comes down to:
1. How much content are we talking about?
2. How many people use your server?
Yes, QuickSync is amazing but hard drives alone (for a larger collection) are incredibly expensive (today). Even before prices shot up I know people that sunk $8K+ into hard drives alone.
I think we need to segregate data hoarders from people who want maybe 100-200 movies. At pre-insane levels, $8k of storage would have been petabytes of non mirrored space. Back in the day, I routinely watched movies compressed to fit on a CD at 700mb. Sure, that is now laughable quality, but most people don’t care about 8k with Dolby digital at 100+Gb per film.
A single 20TB drive can hold quite a bit of media.