They haven't made any software updates to the ES100 in ages. While the ambient is "better" than the 5k, they both pretty much suck compared to TWS versions. I think you're 100% right about multiple mics, plus they have chips with ANC, which is sort of related.
The sound stays the same quality with EQ. If you notice a decrease (usually if you drop too many frequencies), you can touch it up with gain or in PEQ. The software is really great, and has been under constant development since it was released. That's one of the best things about the Quidelex - the software and active user forum. .
Yah. I think it all comes down to the mics. Way before they released, even Qudelix was reluctant to add ambient mode right off the hop, and then warned that because the mic was lower sensitivity and processed it may be a little weird.
Hanesu, I guess as a frame of reference, imagine you're walking down the sidewalk. The ES100's ambient mode will pick up conversations from almost across the street, but anything that touches or brushes against the device will be extremely loud. The 5K's ambient mode will let you know someone beside you is talking, and you may hear a car driving just adjacent to you, but it won't pick up too much wind and only a bit of handling noise. Also, the 5K can use your cable's inline mic as well. If you have one, it could be better positioned to pick up the types of noise you wanna be aware of.