Live is a very different problem to home listening. Live requires near real time playback on content that is generated in real time. Whereas for any kind of pre-recorded performance, such as listening to music at home, you can read ahead and buffer. So the issues you present simply don’t exist in home set ups.

And before you comment about listening to live performances at home: the broadcaster would be compressing your audio stream anyway. That would be far more impactful to your audio quality than a few dropped networking packets.

Source: I used to work in broadcasting.

Edit: and just to be clear, the biggest reason that live performances are sensitive to latency isn’t because of sound quality. It is because latency is distracting to the performers (eg if their ear piece is ahead of the speakers) and annoying to the viewers if different systems aren’t in sync (like with a movie where the sound is half a second behind the video). So it’s got naff all to do with satisfying audiophiles.