Going back to the OP initial question:
1) The Waza sounds great for a simple solution to play quietly
2) I use it every morning before going to work (around 6:30 am) and it sounds glorious
3) The form factor and comfort is great. I like not having cables
4) It pairs well with my iPhone so...
I have not used the Fender Mustang Micro but I have played the Waza Air for about a year now on a daily basis.
In my opinion, the Waza will give you the most satisfying headphone experience that I have tried so far. I have played through headphones with the Axe Fx, Axe Fx II, Helix, Helix stomp...
Agree with so many mentioned above.
In my personal experience, Steve Morse was super friendly and spent some time talking to me about his wet/dry rig at one NAMM. That was an unforgettable experience for me
I don't understand why is Waza Air not mentioned more.
I was at NAMM when it was introduced and even before trying it I was convinced that it was amazing by looking at peoples reaction when they tried it.
The amp and effects are all in the headphone. It can be controlled with your smartphone...