Currently no, it is not. Our transcoding servers will make sure that all videos do not go outside of the frame that best fits the given video (based on different factors such as resolution, original bitrates, etc) and if the original bitrate is within those, then it would leave it as is.
Now for the mobile devices, you would need the video profiles to reduce the video resolution of the HD recording. Once this is done, you would end up with a stream of pretty much close resolution as the videos recorded over desktop camera.
I say pretty much because a lot of different things impacts how large the video file is or is not, the amount of i-frames needed, etc.
Now while for now the option to set up your own bitrate is not available, we will have it in near future. The goal for this is somewhere next year Q1 to Q2.
As it will be part of video profiles, you would still need to have video profiles feature in your plan.
Also just a suggestion, the bitrate would impact the quality of the video. Depending on different factors, your bitrate should not go down any more.
So if you would like, just let us know the video token (without app token) and we can find it like that, and see how your video profiles are set up currently so that your HD resolutions get transcoded into the resolutions you expect (regardless if it is lower HD or SD).