The difference is between decoding and encoding. And decoding seems to be a lot easier.
There's big corporate push for hardware decoders that a lot of huge manufacturers are going to put in their devices, or so said the H.265 expert in a company chalk talk I attended about a year ago. But that doesn't solve the encoding problem. The x264 guys are leading the charge for x265 encoding as well as far as I know, and its making a lot of progress, but last I heard was still three times slower than x264 at equivalent settings. You wouldn't want to livestream with that.
The hardware manufacturers don't care because they only need to be able to decode, and the encode for most applications, like Netflix, doesn't have to be done at real-time speeds, and only needs to be done once per video and bitrate. So for most applications, the fact that it might take three times longer to encode doesn't matter. Bad for livestreaming though, until it gets tweaked faster, and that may take a while.
That said, we've got nothing to worry about as it appears Jim and many others are very interested in having support in OBS despite the problems. Which is completely awesome, the Handbrake guys aren't like that at all. That said, no reason to keep bumping/creating H.265 threads until you see OBS Studio is out at the earliest.
