Yes and No.
BR uses x.262 or mpeg2 compression on the video stream at a very high bit rate
Most OTT use x.265 or hevc which is a much more efficient compression algorithm.
Is hevc 5 times more efficient than mpeg2? Hard to quantify as there are a lot of variables at play
But keep in mind that DVDs used MPEG2 and needed 4.7gb for a movie at a resolution that’s 1/24 of 4K.
Edit - 4K discs can be between 50-100GB
x.265 is certainly not 10 times more efficient than mpeg2 - will you spot a difference, probably not.
I personally feel the newer HDR10 shows and movies on NF look better and more vibrant than anything I have seen on BluRay but then again, I am talking traditional BluRay vs a newer improved standard.