Just to make the point again: comparing AV1 to H264 when H265 exists for both AMD and nVidia is not a fair or good match. Also, Twitch doesn't support AV1 yet (that I know if; happy to be wrong) and YT has it in beta IIRC (although, Google has everything in beta until they kill it xD).
It is definitely nice to see more tweaks from AMD to up the quality of encoding for sure, but you know I've been testing this as well and CPU H264 gets eerily close to H265 and AV1 when tuned properly in terms of quality at the same-ish compression quality (I test at 6mbps, since that's Twitch's limit), albeit at the expense of a lot of CPU performance (depending on the tuning). Also, H265 does look good as well, but I'll concede it is worse than software AV1. And on that note, software AV1 is impressive for sure, but the penalty is huge. It hits way harder than H264 via software, but it definitely looks better hands down. I'll be most curious to see what AMD and nVidia accomplish when they introduce their AV1 HW encoders.
Regards.