Although that is the general idea, 2.8MHz/1bit and 44kHz/16bit is an apples to orange comparison. 1-bit uses DSD encoding, under which the 1 bit is a delta. It is not widely used, and few if any studios record this way. 44/16 uses traditional sampling, and the idea is to record at some multiple of 44.1 (for audio) or some multiple of 48 for video.
Still, almost no audio engineers actually do this, and much of the material that you buy with higher sampling rates is simply shameless sample doubling. In the real world, most recording engineers just pop open Pro Tools and hit 44.1 and never bother with technical arguments or conversions or using 5x the HD space to store 192kHz stems. Prosumer electronics manufcturers and their buyers are duped, and no one is the wiser.
Still, almost no audio engineers actually do this, and much of the material that you buy with higher sampling rates is simply shameless sample doubling. In the real world, most recording engineers just pop open Pro Tools and hit 44.1 and never bother with technical arguments or conversions or using 5x the HD space to store 192kHz stems. Prosumer electronics manufcturers and their buyers are duped, and no one is the wiser.