The player below is small on purpose - the point of this page is the streaming mechanics on the right: which tech is serving the video, what rendition is currently playing, and how it reacts when bandwidth changes.
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Paces how fast the server streams out segments/manifests (server-side, affects every viewer) so the player's real bandwidth estimator reacts and switches renditions on its own. For genuine per-connection throttling, devtools → Network → Throttling still works as before.