1000:1 is the expected contrast ratio for an IPS monitor. Most VA monitors are around 4000:1, at least if you’re sitting in the sweet spot for the viewing angles. But also generally have worse much response times especially at that price range.

But that’s kind of the toss up you have to choose between.

IPS have lower contrast and “IPS Glow” where the backlight can kind of show through around the edges when showing black. But they tend to have excellent response times, and great color, even at the lower price class. They also have very wide viewing angles meaning the images barely changes when viewed from the sides.

VA have higher contrast, and lately the color has gotten a lot better. But inexpensive VA still have very poor response times and narrow viewing angles. For many people the higher contrast is much more important than the response times.

Personally I can’t stand inverse ghosting that all but the most expensive VA panels have (an artifact of heavily overdriving the pixel changes to try and make the response times usable on VA) and don’t mind the lower contrast for gaming.