" as long as those latencies stay significantly sub-second"
exactly.
You can't really state that something doesn't matter, and then give criteria under which it doesn't matter. That implies that it does matter, and the solution needs to be engineered within spec.
I'd also be interested in some examples of the "everything else" cases in which latency is a big deal ( within the given context).
20Gb each way over the air? Good luck with that one. And the latencies are going to be ignominious.
> We already have Wireless HDMI.
WHDMI is not a 2-way data communication, latency matters far less when you're just streaming A/V to your television.