Fine for some, but for others there are still show-stoppers. I have a laptop with an Nvidia card and my latest attempt to use Wayland, on Fedora 38, didn't last very long at all before being forced to retreat to xorg by the issues.
Lets not even talk about trying to use Wayland in a VM desktop -- Even Firefox/Chrome don't render properly.
I'll try Wayland again this next semester, see if anything has changed.
But RHEL didn't even set a date for removing Xorg support so it will probably stick around for a long while.