Just tried this update on my M1M 16" and 2017 27" iMac as a second display. Pretty lackluster, even over a thunderbolt wire (manual 100KB/s/800kbps). Experience the usual lag/pixelation.
Would be fine for still content.
Yeah it’s not great for any video or fast moving work. But for software development and browsing the web it’s good enough for me.