The paper [1] with ETM 3.0 a few months ago shows baseline offer roughly 30% bitrate saving over JTM / H.264 AVC.
The problem with these sort of of test, irrespective of PSNR or VMAF usage, is their targeting bitrate. It is one thing saving 30% bitrate from 20Mbps AVC, it is another thing if it was 2Mbps or even 1Mbps. I am mostly interested in Sub 4Mbps encodes, which is what most of the 1080P online streaming are.
I am wondering how this will turn out, along with VVC. EVC is backed by Samsung, Huawei and Qualcomm's proposal. All three are also part of VVC.
I personally think and want something that is better than AVC and Standardise across the industry, especially to Internet media streaming. Youtube is still streaming main profile AVC encode to me. And it is rather annoying.
[1]
https://www.itu.int/en/ITU-T/Worksho...esentation.pdf