Apple has done quite a poor job showcasing it so far. Some of the tracks they've put in their playlists sound like crap. On the otherhand some of them sound fantastic. Jazz in Atmos is wonderful. It's also important to note that 'head tracking' comes with iOS 15 and in my experience improves spatial further.
A lot of music made for stereo won't remix well. If you listen to most of the rock tracks they don't sound good because they don't have a lot going on. 3 or 4 instruments + 2 or 3 vocals tracks aren't going to take advantage of spatial. Listening to some modern pop with lots of synths and layers upon layers of backing vocals, the experience is much better.
Atmos/spatial is a new tool like any other. People will write and record songs that work for it and take advantage of it. They'll use it creatively. That's what will be interesting. Most remixed songs from the 60's aren't the least bit interesting but the possibilities for the future are.
I could be wrong and it could end up largely ignored, time will tell. But there is the opportunity for a lot of creativity regardless of what cranky old music critics think.