WASAPI requires exclusive mode to be useable for pro applications, or else your latency will suffer and they may be doing some resampling behind the scenes.
Latency is a valid concern, but is it really bad? PCs are fast now.
I don't use windows for audio anymore so I can't comment on this in win11, but it used to be that WASAPI suffered unless you set your PC in "performance" mode in your power settings whereas ASIO was unaffected.
And yes, latency matters! For live performance you're looking for < 2.5ms of one-way latency to get a roundtrip of under 5ms. After that point it starts being perceptible to players. This is not a performance floor so much as a scheduling one, and ime windows audio scheduling under dsound/wasapi was always shakey.
