If I'm not mistaken, because the iPhone X is only marginally wider than the iPhone 8, videos and photos viewed on the iPhone X at their native resolution (i.e. - not zoomed in) will be only slightly larger than they are on the iPhone 8. If I am wrong, would someone please let me know.
Follow this link to see the size different between the iPhone X and the standard iPhone 8 (not the Plus model):
https://www.phonearena.com/phones/size/Apple-iPhone-X,Apple-iPhone-8/phones/10414,10408
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And you also need to exclude the space housing the Home-Button-Bar-Thing at the bottom of the screen as well IMO.
So I think you're getting about the same usable space VERTICALLY (if held in portrait mode) as the iPhone 8 Plus, but not the same usable space HORIZONTALLY as the iPhone 8 Plus. That means that photos on Instagram, posts on Facebook, and webpages are not much larger than what you'd see with the iPhone 8. It's just that you'll be able to see more content from top to bottom. This isn't unlike when Apple released the iPhone 5, which was only taller than the iPhone 4S.
The bottom line on the X vs the 8 Plus is you really are just paying for a different form factor. I'm sure Face ID will be neat but I don't think it necessarily represents a bigger value add than Touch ID. That could all change depending on what developers do with the feature. The OLED display will be nice but Apple does a tremendous job with their LCD screens, so again I'm not sure how big of a jump it will be.