True, but hardware support does wonders for power consumption. I'm blown away that I can watch 3 hours of h264 content on my flights and only 5% of my iPad battery is used. i.e. more factors to consider than simply whether it can/can't with brute force.
No lyin'. I have an iPad Pro 12.9", 5th generation. I download content on Netflix, Prime, and to VLC prior to flights. During flights I have the iPad in airplane mode and use my AirPod Pros for audio. On my flights from California to Texas, ~3 hrs, I use somewhere between 5-8% battery life. Brightness is probably on the low side because the cabin is dim.
Airplane mode (turning off most of the wireless) seems to be a big factor as well.