This is a bit open ended depending on type of film, screen watching it on, codec etc.
Personally if I’m watching on my 65inch OLED. I can be happy with 30mbps HEVC. However if it’s a cartoon style then 15mbps is fine. On the other hand if it’s a dark film, then I absolutely want the 4k bluray rip, compression in dark areas on an oled can be really noticeable.
I do however have a gigabit connection and buckets of storage so I tend to just get the highest bitrate I can.
Rsync to backblaze b2. I only backup the stuff I can’t download again (photos/docs etc). It’s the cheapest option and does version control automatically for me on a 12 hourly basis.
I then also once a week plug in my external SSD and it auto dumps changes to it via rclone.
Google drive/takeout etc are all done periodically and put into a folder that will roll into the above backups.
I use rsync and backblaze b2.
I use it for version control and cost, about £2 for 750GB