When it starts to have dropouts and communication/connection issues. Otherwise if it’s stable it will always be better than BT (current standards) which is compressed and lossy.
They're not amazingly shielded and the power and signal cables are snuggling up real close, so the power gets dirtier the longer the cable even before you add other nearby cables.
The audio signal doesn't degrade like analog though, since it's a digital packet with built-in error correction - when that fails the packet is invalid and gets dropped. It either works or it doesn't.
Provided the cables is short enough the packet gets there in good shape - per spec as AtomicBob says this is 5m though more is possible in theory - you could provide clean power with a split cable and an ifi Ipower or lps, but at that point just use a Pi.
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