My use case for the ShadowCast 2 is solely for my Desktop PC. My goal for this was something that allowed my Switch to display on my main PC monitor but without having to switch inputs, change audio sources, etc. So now I can play Switch games in a separate window while listening to music or watching a podcast.
Initially I was a little concerned as after hooking everything up the ShadowCast 2 wouldn't display anything more than 720p 60fps with the Genki Arcade site, but after some digging, I realised there is an official app on the Microsoft Store. After installing the Genki Arcade app the ShadowCast 2 displayed 1080p 60fps just fine in both the app and on the Genki Arcade webpage.
The latency is noticeable at first, but it is very minor (like way less than any streaming service minor) so after a couple minutes of gameplay I'm not even thinking about it.
The video compression is good, I believe it could be better but it's around 85-90% as good as the native video output in my opinion, so especially for its price I'd say it's definitely adequate.
Overall I'd say the ShadowCast 2 is a nifty little device that can improve your use of the Switch dramatically, just make sure you install the official app from the Microsoft store if you are using Windows.