Being able to edit multiple 4k video streams on the Air or Mac Mini is certainly a new level of ability.
If you are using Apple's video editing software. I imagine it will take some time for software developers like Davinci and Adobe to retool to take advantage. In the mean time it looks like performance under emulation is pretty good.
The battery life has reached the "work all day disconnected" level for me. That's a nice new bar.
FYI: High Efficiency Image Format—HEIF—isn’t an Apple-invented format. It’s actually a standard created by the MPEG group, and it’s a container rather than a format.
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But yes, Apple has built in support in silicon to make working in this "much better than jpg" format fast.