No way, not even close. At least I can't enjoy that anymore, I'm too much of a snob now... Are you watching on your phone or Laptop? That would make sense.
However, 1080p h.265 can get you superior quality while saving space over 720p h.264.
When I had to watch on my 65" UHD, it was 4-5GB/hour 1080p h.264 files at minimum. 8-10GB UHD h.265 minimum. When I rip BDs my 1080p stuff i rip and convert to h.265 and keep them around 5-6GB/hour (which is like 8-10 h.264 so a gain), and my UHD + DV/HDR stuff I rip are also about 12-15GB/hr... but I cut out all subtitles and alternate audio and keep stereo and multi channel English to help maximize that file size (for friends/family who don't have surround or just use TV).
Now that I'm on an 85" UHD, I kept most content the same (most shows don't need UHD + DV or HDR) but on bigger theatrical stuff or content where I care, movies are closer to 20-22GB/hour for maximum enjoyment. It makes a very big difference when viewing lower bitrate vs higher bitrate! Way less banding, pixelation, and offers smoother playback in higher motion scenes. Plus, audio plays a huge part in immersion!
Not everyone has the space though, for that content, so I get it. But treat yourself occasionally and watch something hi res with quality audio!

What native resolution is your projector? Not at all trying to insult, but many "1080p supported" handle the signal, but still play back at 720p, and there's a good chance you're getting a better native resolution playback that compressed and down converted 1080, which would make sense.
Also, while I LOVED my 120" projector screen with my med-high end BenQ DLP projector, after upgrading to my 85" I just can't go back to the screen, even if it's dark. Idk, it just can't compete. And I play actual BD discs on the projector to maximize quality.