I installed Plex years ago and I used it some, but what I didn't like was that it would just refuse to play certain files that it could, in theory, play. I looked for information and basically it came down to the fact that Plex actually had issues not with the content of the problem files but with their names. You could rename a file and Plex would then magically play it without issues. But nobody knew for sure what caused the name problem or exactly what fixed it. I found Plex to be more trouble than it was worth as it failed on about 20% of what I wanted it to play, but I wasn't paying anything for it so I could live with that. Then despite me not ever updating my supposed free version of Plex, the people behind it found a way to make the free one not work any more at all. Oh sure, I can now pay a subscription fee each month to use Plex, but I've never been able to find out if they ever fixed the name problem, so I'm going to pass.
I get that everybody doesn't care about this, but I liked about Winamp was that you could see the actual bit rate of a file as it played. If you had a VBR MP3 file, you could see what bit rates it was actually using at various places. It's the only program I've found that does that. So from what I can see it seems that this new one doesn't really display much of anything except the name of the song being somehow played (others here say you can't browse so I guess you have to drag and drop to get it to play anything) and some kind of weird semi-psychedelic image. Hard pass on this one. I wait for the day when Plex announces that you'll have to pay to keep using this because that is what they do.