Earlier quoted context omitted.
I just watched a fansub recently where they replaced some environmental text in the background, and they used the ASS format to render the english text out of focus and seamlessly match the depth-of-field effect used in the show. Some groups really go above and beyond.
Definitely. For example, MTBB's subtitles for Kimi no Na wa are very impressive. There's a short showcase of them on YouTube (spoilers): https://www.youtube.com/watch?v=n_c-eKTisI0 It's a shame you basically cannot get anything close to the quality of fansubs from any commercial/legal options.
Edit: Are those baked into the video or did they just use the ASS format?