Speaking always in terms of quality-price ratio, personally I believe that in this price range you can find something better! It is a solid choice if you have Apple devices and they offer a wide range of features that facilitate your daily life. Besides that, it is a simple pair of TWS earphones and it doesn't make sense to buy them if you don't have iDevices. They are perfect daily driver earphones.
1) Sound Quality, Encoder, Compatibility: So, the 2nd generation Airpods don't have any magical uniqueness in sound quality. After trying several cheaper earphones, such as those from the Huawei series, I can't say that the sound quality impressed me. The Airpods offer a neutral balanced sound experience this year, with slightly increased bass compared to the previous model. Thanks to their smart construction, the soundstage is quite wide for TWS earphones. Personally, what I don't like is the boost in the frequencies of 370-650Hz, which makes the sound reminiscent of cheap Chinese earphones. The low frequencies are quite good, the bass boost is at smooth levels and is quite enjoyable if you are not a lover of deep bass. The midrange frequencies are quite boosted, the vocals are quite thin and lacking in extension to the point where the music doesn't move me particularly. The high frequencies sound slightly sparkly, the SPL of the earphones is around 97dB and the volume is fine. As for the encoding, the earphones play in AAC, which is fine if you listen to music, for example, from Spotify, because otherwise it is compressed. However, it's 2023 and other earphones offer LDAC. The connectivity is excellent, but the earphones don't have Multipoint Pairing to seamlessly switch with my laptop, which bothers me considering how expensive these earphones are.
2) Adaptive EQ, Equal Loudness DSP, Spatial Audio, Personalized Audio: The Adaptive EQ helps the earphones adjust based on the fit they have in your ears, so it is very important to find the right eartips. Also, the more you increase the volume, the less bass and treble you get, which solves the Fletcher Munson phenomenon. Personally, the Personalized Audio didn't help me as it completely eliminated my ability to hear frequencies above 15K. I wasn't particularly impressed by the Spatial Audio, I would like less reverb and not such a big increase in bass. The response to the EQ is average and requires a limiter.
3) Build Quality, Design, Application: Very good build quality, sturdy case construction. The hinge doesn't seem like it will break as it is made of metal. The comfort and fit of the earphones are okay, personally they bother me a little after 1 hour and my ear hurts a bit. If you still have a problem with this, try the Spinfit Superfine Eartips. The design of the earphones, with the mesh on the top, helps the sound travel spherically and fully into the ear, which means that, for example, the background vocals are more discernible.
4) ANC, Transparency, Functions: The ANC is simply AMAZING, it is like experiencing the life of a deaf person. When you are outside on a busy street in a busy city with a lot of noise and traffic on the highways, you put them on and everything disappears, as if you don't have the ability to hear, like earmuffs. Transparency is good but not as good as I would like based on the price, I struggle a bit to hear people and may need to remove them, especially when wearing a hat or in a windy environment, as the sound passes through the microphones. They have a Pause Sensor which works very well without any issues, by removing one earbud, the headphones enter Transparency Mode to help you hear. The headphones have the U1 Chip, so you can locate them if you lose them like I do.
5) Touch Controls, Microphones, Battery: fantastic handling with pinch gestures, they always respond correctly and easily, easy volume control with slide gestures, the gestures are on the sides and not on the back to avoid accidental touches. The microphones are crystal clear and in most conditions, you won't have a problem speaking on the phone. The battery life is excellent with a long duration as long as they are played with AAC, they can last from 4 to 6 hours depending on the open functions, personally, I reach 5 hours with Transparency always on.
6) Price-quality ratio: Personally, if you don't have Apple devices, these headphones are not for you, as they are focused on facilitating your daily life with user-friendly features that you won't have on Android. The sound quality is not as good as their price suggests, you can find much better headphones like Huawei at a lower price, or prefer companies specialized in sound like Bose, Sennheiser.