I wonder if it's related to Apple's change from AWDL to Wi-Fi Aware, but AirDrop seems much more reliable on iOS 26. I can send to multiple people at once and they often all succeed, but most importantly, if one transfer fails or is cancelled, I can retry and it works. In older versions of iOS, a failed transfer seemed to block all future attempts until the phone was restarted.
the weird one for me is that if I hit share, and then hit the airdrop target, it doesn't work, but if go into airdrop and then select the same target, then works. Apple, fix your shit, yo.