Even at 300MB, a file sourced from a BluRay will look significantly better than one sourced from a "CAM" (camera recording) or "HDRip."
For the next two hours, Rohan forgot about the small screen size. The compression was masterfully done—it retained the soul of the movie without eating up his storage.
You will not get Blu-ray quality. However, for romantic comedies, dramas, and action movies (with minimal fast motion), "quality" is subjective. On a 6-inch phone screen, the difference between a 300MB and 1GB file is invisible to the naked eye.