Native Wayland apps run great. Can't say the same about those using XWayland, as most of them suffer from graphical glitches and flickering (especially Steam and Minecraft). Secure Boot works with some manual configuration.

GrapheneOS has sandboxed Play Services which basically means they run just like a normal app on your device and you get to choose the permissions they get. My bank's app works with it too (no GooglePay tho). It does require you to get a Google Pixel phone though, which might defeat the whole purpose for some.