Honestly not as long as the wallpaper is fairly plain, so that I can change (most of) the color to match that of my terminal background, and keep the transparency level low. I think it also depends somewhat on the individual looking at it, I barely even notice it when focused.
Like, this particular wallpaper is pushing it in terms of reading interference (but, I really like it). However, something like this wallpaper is perfect for transparency, I use Arch, btw.
Distro: Arch, btw
Bar: polybar
Shell: fish
Terminal: kitty
IDE: Neovim
File Manager: Ranger
System monitor: bottom
Notifications: dunst
Application launcher: rofi
Font: ShureTechMono Nerd Font
Cursor theme: Catppuccin-Mocha-Dark
Icons theme: kora
dotfiles
personal color palette
wallpaper