We've actually found ourselves using the Microsoft Edge app on Xbox quite a lot over the past few years, as it's still a good way to access video content that doesn't yet have an official app on Xbox - in my case, it's FITE for AEW in the UK.
However, it's definitely not perfect. I've personally had to deal with issues where the browser apparently runs out of memory and requires a restart every half an hour... and hopefully a new feature that's being rolled out this week will be able to address this. Here's what Team Xbox is implementing for a random subset of Xbox Insiders:
"A random subset of users will be able to try an experimental Microsoft Edge feature to block embedded content that negatively impacts performance while browsing. We flight these experiences for feedback, so if you have some, or run into anything unexpected, please be sure to use Report a Problem to let us know!"
It sounds likely that the issues with running out of memory are related to embedded content, so I'm keeping my fingers crossed that this new feature does the trick. It's only available to certain Xbox Insiders for the time being, but as always with Xbox Insider features, it'll find its way to every single Xbox console at some point in the near-ish future.
Anyway, it's nice to see Microsoft still working on providing a decent Edge experience on Xbox consoles following the major refresh a couple of years ago, even if it's not quite as good as one you'd find on a Windows PC.