I have even connected 2 computers directly with an ethernet cable to rule out my networking gear and it was ok but very very far from perfect!
Not to mention the experience is clunky at best. Switching resolution, losing settings, dealing with encoding/decoding, etc.
With that in mind, I maintain that this stuff is very very far from perfect.
I feel like the problem is a very large number of rough edges and software bugs, hardware issues, etc. But it's so possible to stream over the local network with zero noticeable latency. Only if all the stars align and there are no bugs.
The chroma encoding is a little disappointing, but I don't think there's any way to bypass it, even at 1080p.
Sounds like it's in the same vicinity for graphics power. Not worth $1k for a tiny bit more RAM.
I do wonder if this will give me any useful presets, in the same way the Steam Deck does. I have no interest in tweaking graphics settings one at a time.