Playing a video requires the computer/tv to turn a string of data into an image on the screen. Not trivial at high resolutions (so some old PCs or weaker laptops could struggle) but not truly challenging, because they were built explicitly to do that.
Rendering a video, particularly high resolution, requires a computer to CREATE that string of data, pixel by pixel (and the sound), based on all the inputs from the video editor. The more elements added in editing, the more complex the task.
To make some kind of analogy, it’s kind of the difference between just filming something live and projecting a tape, and doing a stop motion movie.
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