I think the experiences with this might vary wildly. Not mentioning Apple bt devices, I tried using sony wh-1000xm1 (or whatever the first gen of them was called, because they only solidified a consistent naming scheme for that line around gen 2 or 3 iirc) bt headphones, hhkb2 pro bt keyboard, ps4/ps5/nintendo switch gamepads (all in bt mode), and a TE OB-4 bt speaker. No issues whatsoever with any of them.

Disclaimer: sony headphones, hhkb2 keyboard, and nintendo switch gamepad were tested on non-M1/Intel macbooks. The rest were tested on both intel and M1.