I did a back to back test between ZS and Apple TV 3rd gen this evening.
Apple Music > iPhone 12 mini > Airplay 1 > ZS > USB > RME ADI-DAC 2
Versus
Apple Music > iPad mini 5 > Airplay 1 > Apple TV 3rd gen > Toslink optical > RME ADI-DAC 2
Approach was to play the same lossless (16/44.1) track on each device and keep switching the RME between inputs every 10 seconds, with volumes matched as well as possible. Listened to a selection of folky songs with lots of acoustics.
The upshot was ….. hardly any difference to my ears. The Apple TV route was slightly (very slightly) more shrill with mid-highs, where as the ZS route was slightly more smooth / rounded. I can imagine AppleTV being tiring to listen to after a while whereas ZS more relaxing.
The results might be affected by the RME DAC that masks shortcomings in the source, so I next hope to repeat with a different DAC.
Of course, AppleTV and Airplay 1 is limited to 16/48, so ZS comes into its own at higher bit/SR resolutions.