Great idea, but I'd say practical applications are limited..

Industrial sensors shouldn't rely on Wifi. Hospitals shouldn't rely on WiFi. In a car just run ethernet alongside power.

Since you can't guarentee wireless maximum latency on WiFi, I still wouldn't use it for multi-channel audio (only multi-room, which NTP is good enough for anyway probably). Especially a problem if you want to sync against Video.

So its a nice idea, but it will probably affect very few people..