The current limit is 20 mbit and I would like this to be increased for devices that can handle it.
My understanding is that Xbox One is able to handle a higher bitrates then currently allowed. The reason for the increase would be to allow Direct Play of full MKV blu-ray rips.
Obviously this is only helpful on Local Area Networks. But there should be no reason to compress a full blu-ray rip to 20 mbit if it is not needed.
I do not own a Playstation 4, but I would assume that it could also handle the higher bitrates of non-compressed MKV blu-rays.
I understand that the incompatible audio will still need to be transcoded, but at least the video should playback perfectly.
This is a bit of a rushed post, but I know I believe the same files that are fully compatible with the Xbox One Media player will playback without issue at full native blu-ray bitrates.
--Ninja