Backwards-compatible Payjoin usage is still synchronous and so requires both parties to be online at the same time

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Is that the only downside in V1?

From BIP 77:

“However, BIP 78's requirements for Payjoin Version 1 have proven to be an obstacle to adoption. Version 1 receivers must host a secured public-facing HTTP server. Mobile and web environments limit the ability to fulfil such a requirement. Version 1 also requires synchronous communication. Both sender and receiver must be online simultaneously. Wallet developers regard these requirements as barriers to Payjoin adoption.”