Yep, that's what I use. It took youtube from using 100% cpu, to the point where my little xps13 was thermal throttling, to 50% cpu running 1080p at 2-3x speed.
It's pretty old, like from 2016 so it's only got an i5 7200U (2 core 4 threads) @ 2.5ghz.
Mostly fast enough for what I use it for (content consumption, web browsing, light gaming and coding). It's mainly limited by it's 8gb of ram which isn't upgradable.
I looked now and noticed that I actually reject VP8 and VP9 and accept AV1. I run Linux on a Ryzen 4750U, for the record. It did not have trouble chewing through VP8 / VP9 without skipping frames, but it ran unpleasantly hot.