> This sort of stuff is actually doable just with just video chat and OBS.

If what each person is hearing is 100-400ms delayed from what each person is producing, how can they possibly mutually react or even get their music in time? If B plays in time with what they hear from C, C hears what B did 200-800ms later - that's far too much and will sound terrible.

Jamming would seem to require incredibly low latency audio just for the rhythm to work between two performers.

I just showed you, with examples. Musicians reacts to musical structure, which can be very loose compared to what engineers think of latency. A 12-bar blues can give lots of free time to improvise without feedback.

Also, the stacked delay is part of their product. My solution just does it for free, but it's the same idea.