"Just works, as expected", except when it won't play audio from another Apple product.

I don't know why you are so bitter. Did you bought it, failed to play and Apple refused a refund? Where the anger comes from?

PS: It actually does play whatever sound you play but it wouldn't transfer it as a lossless since bluetooth can't handle those bandwidths.

BLuetooth has not enough bandwith to handle that lossless audio with overall good experience, is my best bet.