Another key is Dolby Vision. After watch so many movies and shows with HDR, I do think it's a bigger impact than mere resolution. I'd rather watch 1080p HDR nowadays rather than 4K SDR (don't make much sense but I've seen a few titles with HDR but not 4K). As for bitrate, I think Apple TV+ has the nicest stream compared to Netflix or Disney. So this Bluray release doesn't make sense at all. I'd rather buy it as separate iTunes purchase.
I do have a decent AV receiver and again, TV+ streams is great with both 4K Vision and Atmos.