depends on the compression used! 1080p doesn't imply good video quality, only resolution. If the video codec is using high compression to reduce file size you'll get a poor quality video.
Video Playback - Blocky Colours
When playing videos locally or online the quality is poorer than expected. Colours appear blocky as if they aren't blending properly. This happens even on 1080p quality videos. Is this a limitation of Chrome OS? I'm using a HP Chromebook 14. The image belows demonstrates what I mean.
