Personally I have a Raspberry with Kodi, a Chromecast and a Nintendo Switch attached to my Onkyo receiver and only one HDMI cable going to the wall-mounted TV. Plus two nice (for my taste) big speakers. And I can listen to streaming music without turning the TV on (big big plus)
I have Chromecast, Blu-ray player, Steam Deck, and computer hooked to my beamer. My solution was a HDMI switch with audio extraction capability, so the HDMI audio goes from the switch to a tiny digital amplifier feeding my stereo speakers. And one HDMI out from the switch to the beamer of course. Very compact and modular system, quite happy with it.
