For normal video I think that's a good rule of thumb.

For mostly-static content at 4fps you can cut a bunch more bitrate corners before it looks bad. (And 2-3 JPEGs per second won't even look good at 1Mbps.)

>> 10Mbps is still way too high of a minimum. It's more than YouTube uses for full motion 4k.

> And 2-3 JPEGs per second won't even look good at 1Mbps.

Unqualified claims like these are utterly meaningless. It depends too much on exactly what you're doing, some sorts of images will compress much better than others.