In terms of pure compression ratio AV1 compete mostly with h265/HVEC in most cases. It does perform pretty well for low bitrate and specific situation like synthetic noise, but h265 is usually better for higher bitrate situations. Hopefully, AV2 will be able to compete with the future H267.

But to be honest, video codec have gotten so good these days, I just hope that we get a reasonably fast open-source encoder. AV1 and HVEC can already turn a 50Go bluray into an almost visually lossless 5~3Go file.

Go? I haven't see this particular unit before.