I think your parallel is spot on!
But it never ceases to amaze me the consistency and time spent sitting and smiling and other similar endeavors by Benjamin - https://www.youtube.com/@BenjaminBennetttt/streams
The paper linked to justify this just talks about media that people consume which is growing. But that has nothing to do with the point this post is trying to make?
Your eyes "stream 4k video" anytime your eyelids are open regardless if you're watching a movie or looking at a wall? Why would me watching more videos say anything about how much information my brain processes?
Staring at wall produces little information in and of itself, perhaps through reflection, but staring at a TV produces a load of information, most of which is useless like names of characters, their favorite dresses, what food is being eaten where, etc. You can learn a lot by just passively observing even "dumb" TV especially if it contains foreign content or skills like cooking or sports. Again, not saying all of it is relevant to your life, but that's a different issue.
I'm aware of an association between perception of time to number of photons received in the eyes.
These relate to both how much time the events appear to take subjectively as well as how well remembered they are or how long they feel retrospectively. As in there is an actual physiological explanation for "time flies when you're having fun".
There probably is something to also be said for attention too. Increased awareness and attention will undoubtedly use up more 'bandwidth' or 'storage' too.
But a wall would probably do just fine as well.