It could also be a lot worse than 720p. At least for me, most bigger (not netflix-original) titles are limited to 480p with maximum bitrates even below 1000 kbps when using a "partially" supported browser like Chrome.

But even using Edge is not a silver bullet for all content, as some seems to be limited to that low bitrate 480p on all browsers, even if higher quality is available on a TV app.