I did the test shooting with and without bitrate hack to see if it helps to eliminate macroblocking. Yes, it goes in right direction, but not there yet, and not because of hack itself it's only about sd-cards speed limits. We can use 150-190 mbps at the time, there is no SD card which can provide more. Yet.
But still, it is a big progress. Even at 160 mbps there is a detectable visual upgrade compares to 80 mbps, but you need to know where to search. I think it's about CTU in HEVC, at larger bitrates codec is not eliminate macroblocks in picture per se, but replaces them with Coding Tree Units more efficiently than with smaller bitrates. At some point in post processing you can see when there's large blocks occur in 80 mbps file, but in 160 mbps file - only a "three" somewhat like "fractal blocks" of much smaller blocks. H265 use CTU for replacing macroblocks. So, overall quality is improve with bitrate hack, but macroblocking is not eliminated completely.
Here is the test results, two heavily destructed sequences for more visual reference, left side - 150 mbps source, right side - 80 mbps source. Both sources recorded in UHD@30 with identical setting and environment, only difference is the bitrate. Scale around 300% for better proof and to eliminate influence of export bitrate.
Forgot to mention that I did the test with NX1
It depends of scene that you shooting. Some scenes can't be record with small bitrate without macroblocking at all, they even close to crash with high bitrate option, but it works in far more cases than I did imagine before I start to use bitrate hack. Now I shoot only with it, but of course, if there new options appears, I'm ready to consider them in work.
Also you can shoot with pretty much close to LOG settings and even create special NX LUTs for standart situations for exact yours setup. Basically you just need a few hours and some color checker for starters
And yes, I'm also wants the real log profile and 10 or 12 bit color, for shure! But really I think that bitrate hack is just a first step in better overall quality path, bc without it I highly doubt that only 10bit color itself did all the work, like, how about beautiful 4K picture with 10bit color but H-U-G-E one helluva macroblock in the center of frame, like 480p-block? It might be the case very easily