Audacity is clunky but gets the work done when it comes to simple editing. Not really indeed very good for a musician since it misses useful realtime feedback on effects, but for a Dad looking to record / edit / convert his vinyls into mp3s it works perfectly.

As for why you'd want to have low latency on a sample editing software, I do not really understand why. Unless you want to record and process effect automations. For that purpose, why not use something more like an audio sequencer? (Reaper -- pretty cheap -- or Logic Audio, Cubase, Ableton Live)

As for exports, Audacity supports ogg, mp3 and flac, which is pretty good. But no direct burn operation.

Who burns CDs nowadays, though?

In summary I think the only crime that Audacity commits is to look and sell itself as more advanced than what it really is: a simple sample editing software. So bad marketing and an incorrect apparent focus on musicians.