My mistake! My post should have said “Replay” in place of “Video” - I’ve corrected it.
The current beta Replay feature available now is an updated version of the tool that was originally built for the video team. Because of this, the features / functionality are more geared towards this purpose. To my knowledge, it only uses storage space when a recorded or edited sequence is saved, but it does still use a lot of resources for the recording & editing process. For anyone who hasn’t seen it, you can check out features of the Replay tool here to get a better idea of what kind of information needs to be stored during the editing process.
I can’t make any statements or promises on whether or not this will be what the finished version will be like, but we are still gathering feedback on the function. Please do let us know your thoughts on the feature’s current state, and what you might like to see out of a finished version.