(Indirectly) encouraged by this community, I connected my Zyxel once again, to see how it fares against the Fritzbox.
I'm connected to a Huawei cabinet, but my line has an 'interference' issue (SHINE type, rather than REIN type). Stats included below. Not much of a difference in terms of errors etc., apart from that Zyxel can so far keep up the connection. But the real test will be this week, when my regular Teams calls resume.
My conclusion so far is that if there's an issue on the line, no matter what technology you try, the technology (PhyR) won't make the issue go away.