I wonder what would happen if we quantized each dimension to 0.5 (or even fewer) bits instead of 1, i.e., taking 2 (or more) scalar components at a time and map

I wonder what would happen if we quantized each dimension to 0.5 (or even fewer) bits instead of 1, i.e., taking 2 (or more) scalar components at a time and mapping them to 0 or 1 based on some carefully designed rules.