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It is possible to encode a DVD at 9 Mbits, at least on my Adobe Premiere program.
Which is the same as the pseudo HD broadcast TV uses.
DVD may not be as good as a Blu Ray but it is still very good quality and will look fine on TVs.
DVD are more reliable and less easily damaged.
Resolution is important and the bigger the better BUT it is only one of dozens of factors that effect image quality.
Modern DVDs of feature films that don't make it to Blu Ray look great upscaled and projected on to a 2.5 m x 2 m screen. Not as good as Blu Ray but if people comment about the resolution it means the content was so bad that is the only thing they saw. The reason they look good is that they are shot well.
I showed my niece an old Chaplin DVD of a film shot in 1919 on orthochromatic film with hand cranked cameras. She enjoyed it and did not comment that it was not HD or in colour...the story took her.
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