I’ve been doing this for about a decade with thunderbolt 2 then 3 (and backwards compat with 4).

I’ve had one cable begin to fray in all that time (a thunderbolt 4 caldigit cable). It swapped it out for an Apple cable and kept going.

I’ve used OWC docks, which aren’t known to be the best, but have worked great for charging, usb, Ethernet, FireWire, display (both over daisychained thunderbolt and display port), and SD cards. The only thing I have used them for extensively is audio. My monitor is a Thunderbolt 2 monitor with USB breakout. In between it and the dock is a two drive SATA enclosure.

I recently threw an extra Thunderbolt 3 dock I had on a USB-4 mini computer running Linux and it worked without any issue.

I’m sure there may be things that don’t work well, but its worked for me. I even wrote an app to have a global hot key to eject all my attached disks (DriveLight). Press the key combo, wait for the eject sound, pull the cable and go.