Yes, this was an awesome surprise. Tried a movie yesterday with my APP and it was just as good as using an MP4 on FE File Explorer, but way more convenient.
Only think I notice with Spatial Audio is you have to really turn up the volume in order to hear the dialogue properly. But the LFE like bass is pretty cool. I also had to ask my wife when I first started the Netflix movie if the sound was coming from the iPad speakers, and she said no. I hadn't played anything using SA for months so it was cool to have that effect again.
I would say that sometimes I like just listening in plain stereo, because its easier on my brain for some reason. But for more blockbuster type material it is a very cool tech!