All video compression comes down to three dials: bitrate (how many bits per second the picture gets), resolution (how many pixels those bits must cover) and codec efficiency (how cleverly they are spent). Everything else is marketing.
Flippy's presets mainly turn the bitrate dial and let a modern encoder spend the budget where the picture needs it. If you would rather turn the resolution dial, the resizer scales 1080p down to 720p or below, and the two combine happily.
What no dial can do is compress the same file twice for free: the first pass spends the easy savings. Compress once, from the best source you have, and keep that original.