@amper42 : I use Moode from the beginning, around 2016, so I know what can it do and what it cannot do.
Firstly, streamer is also bit perfect, either through SPDIF coax or USB (Wiim Ultra). All streamers from Wiim or Fosi can do streaming from local source with UPnP like Moode, so no advantage for either of Rpi5 or streamers.
Secondly, I use shairport for airplay streaming for a long time. And I can tell you that it still have bug and never error-free like what I get from my Wiim Pro Plus.
Thirdly, being an kind of open source, Moode or Volumio are always in the catching up mode. So integration with big, popular commercial platform or like Spotify Connect, Amazon Music Unlimited, Google Cast is either non-existence or sometimes broken.
Of course, for a specific use case, Rpi5/Moode is good enough. And your concern about security and privacy is spot on. But for vast major of users, streamers are far more error-free, convenient and feature-rich. And price for them are very reasonable.
I tried to use Wiim with local music and the interface was poor in comparison to Moode. In addition, UPnP would never work properly with Audirvana as well. Once I threw my Wiim gear away and switched to Moode/RPI5 all these issues disappeared. Each person will find what works best for them. The customization and privacy in Moode is far superior to anything in Wiim. I would never buy a streamer from a Chinese based company again.