It’s best for watching movies and videos, which I do when using my Mac with an HDMI to my TV, which creates a pretty believable home theater experience.
For music, it definitely changes the “mix” of the audio in a way that some audiophiles will definitely have a problem with, given it’s synthesized mixing by an algorithm. Stereo music tracks are mixed to have a certain tone, balance, spread, etc, to them, and Spatial Audio does indeed destroy this to create a virtual mix instead. IMO, it can sound better depending on the song and what kind of mood you’re in… if you want the song to sound right up close to you and in your head, or if you want to feel more comfortably distant and like you’re listening to an external speaker system or auditorium or something, then you can choose.
For music, I would say fixed, non-head-tracking setting is better. But when watching content on a fixed screen, like a Macbook or TV, or even your phone in your hand, then that’s when head-tracking can be really effective at creating an illusion of an external speaker system. I sometimes forget that the sound isn’t actually coming from my TV.