GPU hardware acceleration has nothing to do with video decode. (Okay, the hardware is often on the same physical silicon die, but they're separate things in software.)
There is literally no support yet for any unix video decode APIs in Firefox. No VA-API, no VDPAU, no V4L2, no nothing.
Because if you're compositing on the GPU, you're not compositing on the CPU :) It shouldn't help that much with video players, but it does always help a little
Check "How to force-enable blocked graphics features".
https://support.mozilla.org/en-US/kb/upgrade-graphics-driver...
https://wiki.mozilla.org/Blocklisting/Blocked_Graphics_Drive...
The difference is that my tiny netbook APU doesn't get bogged at 100% while playing videos, on an otherwise DX 11 class GPU.