Bluetooth headphones seem to add sufficient lag that they prevent me from playing an instrument (like a synth) over them. I'm not sure bluetooth can solve this problem, but I'd be pleased to be surprised.
Even USB audio has some buffering to handle bus contention, but it is quite small in comparison.
I don't know what changes behind the scenes, but it does improve latency. The only downside I noticed is the reduced range, eg, it stops working on a different room where normal mode still works.