Stereo sounds do not seem to have a position when played with /playsound. In previous versions stereo sounds would fade out as the player travelled further away from the source, depending on the volume, but now stereo sounds follow the player everywhere. This is a feature I welcome to the game, but it should be optional (if it was intended). It is helpful for music/ambient but not so much for other effects that should be localised in the world.

Reproduce:

• Start up any world
• /playsound minecraft:music.menu master @a ~ ~ ~ 1 1 0
• Fly away from where you executed the command. Notice the music does not fade out.

Changing the sound category/volumes seems to have no effect. I have tried stereo sounds from my resource pack that are not defined as game music and the issue persists.

Additionally, it seems sounds played at extremely high volumes with the command removes any ability to turn the volume of that sound down via the game's sound settings.