I'm reading up on this M5 Audiocast product and I'm failing to see how it's anything other than allowing you to stream music to a device via WiFi in stead of Bluetooth. Extra dongle, cables, connections and yet another app for no benefit that I can see.
Maybe I'm out of touch, but when I'm with friends or family, there's usually a speaker somewhere connected to a phone, and that phone is playing tunes. Someone is in charge of the phone and what is playing. Rarely do we care what is playing though because that's not why we are together. If someone wants to share a specific song they like with the group, they can either play it from the "DJ" phone, or just connect their own device to the speaker and play.
Possibly I'm just a 34 year old boomer and I don't understand how the kids like to party these days.