I did this during the pandemic, using Jamulus. I'm a jazz bassist. I felt that the amount of latency was a mixed bag, depending on your Internet service. Just because you're in close physical proximity to other players doesn't mean your latency is short.
Also, it works as advertised if you play an electric instrument and can block out the natural sound of your instrument with headphones. For this reason, electric bass was a lot easier than upright bass for me.
Many of the musicians are not techies, and explaining these details is impossible. "I took my headphones off because hearing the mix was messing me up" is a constant refrain. Trying to maintain a sense of time under those circumstances made it mentally fatiguing to play, and no fun, so I eventually gave up and started just working on my technique and improvisation.
Also, it works as advertised if you play an electric instrument and can block out the natural sound of your instrument with headphones. For this reason, electric bass was a lot easier than upright bass for me.
Many of the musicians are not techies, and explaining these details is impossible. "I took my headphones off because hearing the mix was messing me up" is a constant refrain. Trying to maintain a sense of time under those circumstances made it mentally fatiguing to play, and no fun, so I eventually gave up and started just working on my technique and improvisation.
Jamming with people outdoors was a lot more fun.