Any software you have for encoding is already licensed
That's not guaranteed. Most open source software isn't licensed.
and any non-commercial usage doesn't require a license at all.
Not accurate. Some, but not all, non-commercial usage doesn't require a license for the media, but the software still needs a license.
MaximumPC paints this a little bit different. Where only lower end cpu's get a big boost in conjecture with higher end AMD cards.
I was wondering how that made any sense, because I've never seen my i7 more than 20% used in any game where I've monitored CPU usage. However, I haven't played the Battlefield games in years.
CPUs can bottleneck even at 20% utilisation. The task manager will show 20% average utilisation, but that could mean that it sat at 100% utilisation for 20% of the time, rather than 20% utilisation for 100% of the time (or some mix in between).