I started with a Synology DS220+ with two 6TB drives, thinking that I'd never need that much space. Well, I outgrew that setup within the first year. As @Morris_Altman suggests, the Synology Hybrid Raid system offers the greatest flexibility and good redundancy as well.
As an upgrade, I purchased a DS920+ with two 20TB drives. When I first set it up, I made it an exact copy of my original file system and contents, and set the smaller NAS aside.
Eventually, I came to understand that there are some files which I cannot ever risk losing. This includes vital documents, and irreplaceable pictures and videos. I live in a high fire-risk area. Even with file system redundancy in my main NAS, there was the risk of losing everything in a catastrophic event. So, I moved the smaller NAS off-site, and use it to back up all of the most critical files. I keep a subset of these file folders synchronized between the two locations using Synology Drive ShareSync. As I add, edit, or delete these files on one NAS, they stay exactly the same on the other.
The newer, larger NAS hosts my Channels DVR system and media files. It also has my PLEX server for photos and music. After two additional years, I added a third 20TB drive, and now, two additional years have elapsed and I'm maxed out again. I still have room for another drive, and if needed, could even add more with a DX series expansion unit.
Regarding the hardware encoding. That was considered when I purchased these original Synology units. They are easily overwhelmed by intensive processing. I find that there is no chance of successfully running Prismcast. I am now looking at moving all of my containers and media server programs to a more powerful desktop or mini computer which can easily handle the video processing. This will leave the NAS systems for data and media storage, which is what they are really intended to do.