By mid-2020, when this article was written, 4K HDR has become the baseline for displays. Certainly TVs, and to a large extent monitors. Most certainly for home cinema projectors.
Yet, some content kept releasing in 1080p full HD with SDR, or standard dynamic range, rather than 4K with high dynamic range. As the 2020 release of Underwater on Blu-ray demonstrated, 1080p SDR still had a lot of life left in it when done right. We will now switch to the present tense, because this Blu-ray will always be a prime example of doing more with less. Underwater is a science fiction horror movie set some ten kilometers below the Pacific Ocean surface. Directed by William Eubank, the movie stars Kirsten Stewart, Jessica Henwick, Vincent Cassel, Mamoudou Athie, and T. J Miller (of Cloverfield fame). Bojan Bazelli supervised cinematography, which is marvelous throughout.
Underwater on 1080p SDR Blu-ray makes a case for two things: first, a well-made disc compensates for lower settings. Second, with upscaling and HDR emulation getting better all the time, good home cinema displays and projectors provide consistent quality as long as the source is capable enough, which in the case of Underwater on Blu-ray is definitely the case.