"This gives a good basic idea of what sorts of benefits H.265 can offer compared to H.264. While it’s not hitting 50% bandwidth savings in most cases, it’s close — quantizer 24 is 57% the size, q=30 is 59%, and q=40 is just 47%. Granted, at a quantizer of 40, the final output is wretched — but it’s wretched at less than half the bandwidth."
Source:
http://www.extremetech.com/computin...eneration-video-codec-live-up-to-expectations
So, even rounding up to saying that an H.265 file is 60% the size of an equivalent H.264 file, that's still a pretty good reduction in file size. Others have shown that with some tweaking it can be dialed into the 50%, or half, range.
That article also compares picture quality as well, and I think shows that H.265 is the same if not a tad bit better quality than H.264.
I agree with the above sentiments though, that as a format is seems like a non-starter unless it is open to use. It might not be fair, but that's just the way it is with internet formats. The money should be made similar to how money is made with Linux development - consulting, customizing, support, and implementation.