The Pi is running the Raspberry Pi OS desktop which I've just downloaded/installed and fully updated and is using the Chromium Browser.
Laptop running Ubuntu 20.04 and Firefox.
The Pi decodes HD reasonably well with some occasional glitching but only encodes SD, Jitsi complains about the network being non-optimal but that appears to be a red-herring, all 4 cores are at 100%. If I lower the "call quality" slider to SD the network issue goes away.
The video received on the laptop from the Microsoft HD webcam on the Pi is 420x270. it's smooth and the frame rate and latency is "good" but it's pretty "soft" at full screen due to the low resolution.
In conclusion, I don't believe you're reasonably going to be able to get 720p or 1080p encoding out of it with Jitsi Meet in Chromium.
Anything else you'd like to know?
Edit: The issue I mentioned appears to be fixed for a while: https://github.com/jitsi/jitsi-meet/issues/5439 More discussion here: https://github.com/jitsi/jitsi-meet/issues/4758
I can add active cooling to the Pi and test further once I find the fan I have lying around here somewhere.
EDIT: Added active cooling and increased video memory from 76MB to 512MB (although I think it's capped at ~400MB if I remember correctly), I'm now getting encode of 640x360 @ 15FPS on the Pi, so a slight improvement.
Too bad, but probably to be expected. The RasPi wasn't really meant for tasks like this. Still, actually interesting that it would suffice in a pinch if you just needed to just stream some video, even if the quality isn't really good.
I imagine Jitsi isn't taking advantage of hardware encoding capability (It's using VP8/Opus in my testing) but it gives an idea of what's currently possible.
That said, as I mostly work on native code for the communications work I do, I imagine the Pi would do a much better job with a native client and the right codecs.
I've made a note to test this. I'll need some time as they're mounted in a server rack case I built and will need to be removed and re-installed with a DE to test at my desk.
(This is an entirely different thing, but apropos: the RPi 4 is too slow to run the Jitsi Meet server, at least according to the devs: Arm and 4GB of ram are not enough to run it https://community.jitsi.org/t/jitsi-meet-on-raspberry-pi-4-f...)