Yes, SMPS is designed to save power by using only one antenna at the endpoint. In theory, disabling SMPS ensures that all antennas remain active, which can improve wireless performance.
I've seen some people report improvements in wireless connectivity after disabling SMPS, but to be honest, I've never tried it.
I am not a Cisco Meraki employee. My suggestions are based on documentation of Meraki best practices and day-to-day experience.
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