I’ve written some other posts on Wayland recently, and it’s time for another one! Feel free to skip it it you aren’t interested in a discussion of Wayland and platforms. Many may …
For me, yes: Wayland doesn't work at all and the only answer I can get is that it's because of Nvidia. That's stupid because until some update broke it, it worked. Most apps were just very buggy.
For years Nvidia tried pushing an alternative Linux driver called EGL, everyone told them it couldn't support Wayland
Eventually Nvidia tried to implement EGL backends to Gnome and KDE (this resulted in the buggy apps). Nvidia then declared their new cards would support GBM.
This leaves the 10xx-30xx cards stuck on EGL with no one supporting the EGL backends. Nvidia have made it so GBM support can't be added by outsiders to those cards either.
For troubleshooting, I recommend
For trouble shooting recommend https://community.kde.org/Plasma/Wayland/Nvidia, checking whether all kwin backends are installed (kwin-wayland-backend-* on Ubuntu). Sometimes there's also a problem with the missing OpenGL backends of Qt. An easy check to see whether there is a problem with the proprietary driver is to try out whether the problem also exists using nouveau.
All of Wayland is based on EGL. What you are referring to are EGLStreams vs GBM which are both libraries using EGL. Nvidia drivers now support GBM for all supported GPUs via a support library that comes with the driver (libnvidia-egl-gbm https://download.nvidia.com/XFree86/Linux-x86_64/510.39.01/README/gbm.html). There should be no difference in the GPU generation used.