Please read bellow about what support says of the current state of 3rd party headset compatibility. This explains many headsets not getting the mics to work, bad audio in chat, etc. Hope the fix it soon. Meanwhile I'll stare at me $30 paper weight.
Xbox Support Chat for case 1237936431
Ceazar: We do apologize to inform you that we checked the updates in our system, however, the list of the compatible headset is not yet uploaded, what we know that currently compatible 3rd party headsets are some model of the turtle beach headset.
Yamill: so all other headsets that did not launch today are out?
Ceazar: There is a possibility of that one, Yamill, however, rest assured that our Xbox engineers are already updating the system to make the Xbox One Stereo Headset Adapter be compatible for all 3rd party headset.
Ceazar: The Xbox One Stereo Headset and the Xbox One Stereo Headset Adapter are both new released accessories for Xbox One console and the system update for those accessories are not yet complete and once both system update will be completed you can already use 3rd party headset that you currently have.