I have a Mytek Brooklyn which is fully MQA capable but after a lot of listening, and talking to members of the San Francisco audiophile society I have left it off.
There are three problems for me:
- Tries fixing a problem we no longer have
- Not that great sounding
The lossy/lossless part of MQA is to me the least interesting, but please see the great write-up from Benchmark (below) on this point. Apparently it is quite lossy.
The bigger issue in my mind is that it's attempting to solve problems from the 1990s. High resolution music transmission. That problem was solved by cheap Internet and high speed Ethernet. I don't need more compression.
Lastly, it just doesn't sound that good. The biggest audio related issue I can detect is the use of an apodizing digital filter, which is not perfect but attempts to solve pre-ringing artifacts. To my ears it also severely softens the music sound and I prefer steep roll-off filters.