I find "HDR" content on streaming services (Netflix in particular) looks far more crushed than SDR content streamed from my Plex server.

I'm unsure if it's to do with the bitrate limits of streaming services, but it's not an issue I've run into since switching to Plex a couple years ago.

'Dolby Vision' content specifically always looks awful on Netflix, whereas the same content looks fine on the same TV when it's coming via Plex.