Quality is significantly better than SBC. ETSI has tested this extensively and came to the conclusion that LC3 is better than Opus in some common conditions [2]
Quote: LC3 at 32 kbps (LC3 32) provides significantly better audio quality than Opus-CELT at 32 kbps and complexity level 0 (OPUS_v114_c0 and COPUS_v114_c0)
So there IS a solution for higher quality, which is LC3-SWB. It's just that both devices need to support HFP 1.9 to make use of better codecs, which will take a while especially on the headset side.
[1] https://www.bluetooth.com/specifications/specs/hands-free-pr...
[2] https://www.etsi.org/deliver/etsi_tr/103500_103599/103590/01...
The SBC bitrates discussed in the article are nuts. Opus is transparent at 1/5-1/4 of those rates. OTOH it’s newer and maybe ten-year-old cheap Bluetooth chips couldn’t have handled it.