Very rough and unscientific "test", but on my 17 Pro Max I just played 30 minutes of a 1080p/60fps YouTube video, over wi-fi, with the volume off and no headphones connected, screen brightness level around 1/3, and phone lost around 3% of battery charge. So, based on that sample, that's about 16.5 hours of video playback from a full charge. Bearing in mind speakers were not being driven or Bluetooth headphones connected, content would be SDR, not HDR, this seems way under the 33 hours Apple boasts for the Pro Max model. Obviously, the 33 hours Apple quotes is the maximum figure under optimal circumstances, so I wouldn't expect to achieve that.
Like I implied, a very rough and hardly scientific "test", but I really can't help feeling the battery performance on my iPhone 17 Pro Max is lackluster compared to my 16 Pro Max.