Interesting take. For me, I have the BTR5 and I think its value is in its price-performance. It does a lot for $109. Supporting both wired and bluetooth. Balanced and single end. And, EQ options is a great value.The wired connection to the earphones/headphones on either dongles or BT receivers like K5 or BTR5 is a feature... you use a solution like this because you want the quality you get with the best IEMs. Also I have never heard of anyone having a problem with these connections, but some may.
in the case of the W2 and other dongles, the wired connection to the source is also a feature, to give the highest quality digital transport. But this wired connection is notoriously bad due to jostling when walking.
For sound quality, I prefer the Lotoo PAW S1 and L&P W2 by a large margin so I rarely listen to the BTR5 anymore as a dongle. The only use case remaining for me was it's bluetooth capability since my other dongles don't have it. But, when I got the UTWS3, the sound quality is similar to the BTR5 in bluetooth mode and has superior wireless benefit since no cables are required.
Just a different perspective.