EDIT: The only reason why I still had it at this point was because I could use it with other apps. However, now that my Spotify Subscription is cancelled, it doesn't work with anything. It's mildly infuriating because today, I can't still use it with other apps like I was able to yesterday.
Please don't make the same mistake I made. No one should buy this.
Spotify uses 320kbps ogg vorbis when on max quality, I would be really surprised if people could tell a difference compared to lossless.