It works. I use it to connect bluetooth speakers to my Xbox series when connected to a Video Projector that has no audio output.
But I notice a 250ms latency that is more noticeable watching a movie than when playing games. I use vlc latency compensation tool to eliminate it when watching a movie. In a game, it's not that much of a deal unless it's a sound based game where tight synchronization is really important.
Also, whenever I turn my BT speakers on, even though it will automatically connect to the extractor, I must manually put the speaker in pairing mode BEFORE it connects to the extractor otherwise artifacts start happening (clicks, pops, crackling). When you know it, it takes 2 seconds so not a big technical problem, more of a experience quality thing.
Other than that, it's a good device that solves the problem of not having BT compatibility between a Xbox and a BT devices that is not manufactured by microsoft.