I use modi 3 daily in a nearfield monitor and HP setup. It does just as well in 2ch as it does in HP use. It's no slouch, especially considering the price. It's a definite upgrade over most phone/tablet dacs, and those in older home electronics.
In my varied setups I find that I can easily distinguish voices, instrument position, separation, soundstage, etc. Depth is better done by modi multibit, but nothing is perfect. more people then not seem to like it, but it surely isn't for everyone. Nothing is.
I'm sure the Modi 3 is an upgrade over whatever DAC is in laptops or phones. I'm blown away every time by the sound of my Jotunheim with 4490 D/S DAC card over my headphones, compared to the direct output of both laptops and of the RadSone ES100 which I have. It's a balanced DAC but otherwise it's basically the same as found in the Modi 3, so I had perhaps too high expectations?
For 2-channel, in a medium sized room, it was however outclassed by the other DACs that we heard before it. I don't know what DACs Bluesound uses in their equipment, but NAIM definitely made some efforts to make a good DAC and it shows.
I'm still holding out for the improved Schiit stack to win out in the rematch.