Been working great for me for ~1 year on my desktop and closer to 2-3 on my laptop.
The only thing missing for me was Barrier for input sharing, which libei is supposed to fix. I ended up going for a hardware solution as Barrier is jank af anyway.
Only thing not working for me is HDR (should be fixed in Plasma 6.1), not like you could do HDR on Xorg anyway. Also no HDMI 2.1 but that's because fuck the HDMI Forum.
Performance-wise, just blows away Xorg in every metric, and explicit sync should make that even better.