What do you mean by "standard content"?
*It is entirely possible Apple could switch to another object-based audio format, or even design their own. Hence the "spatial audio" label vs calling it Dolby Atmos.
Spatial Audio is Apple’s headphone based Atmos presentation or surround sound virtualisation. If it’s not on a head phone, it’s not known as spatial audio.
The sound coming out of home theatre speakers is just known as Dolby Atmos, or surround sound.
By "standard content", I mean comparing the 2-channel stereo version to the Multi-channel Spatial Audio, or Dolby Atmos, version. On my processor, I can isolate the sound coming from individual speakers, and the sound I hear coming from the surround speakers is very subtle, like ambient sound. I can get the same ambient sound using the Dolby Surround upmixer, so I don't perceive much improvement, if any, listening to the Spatial Audio version.