I have switched from a Razer Kraken V3 to BlackShark V3 Pro (PS), and have noticed a significant volume decrease at the same volume level on PC.
The issue seems to mitigate while wired, but on wireless usage it’s really really low.
I do not know if they are malfunctioning, but at least I cannot find a reasonable explanation for why this would be desired.
No options in Razer Synapse seems to modify it.

