I agree with a lot of what you say... but not all of it.
Some very low end DACs don't sound very good... and what they lack is a sufficiently low noise floor and often what you might term as "clarity".
However, in many higher priced DACs, you're not actually paying for better performance or improved accuracy, but for "a sonic signature".
That's a highly technical audiophile term for "it sounds different than the others in a way that I find pleasing".
(Because highly accurate DACs tend to sound very similar some manufacturers deliberately add some sort of distinctive coloration as a "product differentiator".)
The only real "catch" there is that this distinctive sound isn't necessarily something that is directly connected to either price or design quality.
For one thing many DAC chips actually have selectable reconstruction filters.
A reconstruction filter is an essential part of a properly designed DAC... and the various choices often do sound slightly different.
The differences are usually quite subtle, but not always, and there is usually one that is the most accurate, but it may not be the one whose sound you prefer...
So the difference between that $500 DAC you love and the $100 one that doesn't impress you may just be an arbitrary choice made by the engineer who designed or "voiced" it.
One specific example worth mentioning is the very distinctive "house sound" that ESS "Sabre" DACs often exhibit.
Many, but not all, devices that use Sabre DACs exhibit a sort of brightness or boost in apparent detail when compared to other brands.
This is also related to the circuitry around the DAC chip - and not all devices that use the ESS Sabre chips exhibit it to the same degree.
People who enjoy this sound signature tend to describe it as "extremely detailed" ...
People who don't like it tend to say it sounds unnaturally "grainy" or "etched"...
It tends to sound pretty good with speakers that are slightly laid-back but to exhibit an unpleasant sort of sonic glare with speakers whose treble is already somewhat forward.
Also, as you might expect, it is far more pleasing with certain types of music, and with certain recordings, than with others.
My point isn't whether it's bad or good... although I personally prefer an uncolored sound... but merely to point out that I've heard this same sonic signature on $100 DACs and on $1200+ DACs...
I'm also not picking on the Sabre DAC chips... although they aren't my favorites... and many other DAC chips can also be made to sound very different with different filter choices.
It's also worth mentioning that, when the designer's goal is accuracy, most high-performance DAC chips really do sound very similar...
So, when you hear major or significant differences, they're almost always deliberate...
(Excluding the consequences of a few legitimately poor designs...)
It's also worth emphasizing that THE SOURCE is more important than any of this...
High-res files are often mastered very differently than their "CD quality" counterparts...
Likewise for DSD files... and even the "SACD layer" of a Hybrid SACD disc may be mastered differently than the Red Book CD layer...
And, whether you like the difference or not, MQA files often sound VERY different than non-MQA files...
And the quality of various streaming services and METHODS vary widely.
For example, music on Spotify has ALWAYS been subjected to lossy compression, and so has ANY music that has been sent via a Bluetooth connection.
(And, in case you didn't realize, music you get from Spotify for free is lower quality than what you get with a paid subscription.)
And, even beyond that, the same music, from the same source, may be handled differently by different devices along the way.
To get back to the subject... the DACs in the PT1 are quite good... and also quite neutral...
So I would ALWAYS recommend listening for yourself before assuming that another DAC will be an improvement.
You might well be surprised.
With DACs, to my ear, the more you pay the more clarity in the sound. And you don't have to pay a lot. I have the gear in my signature, that Cambridge DAC/Streamer/Preamp, it just bested my $2000+ Schiit Freya and Freya S with the Gungnir DAC. It was a tough call, I pulled the Schiit out of the system and went with the Cambridge. So, it is not so much the actual DAC chip itself, it is what the engineers did around the DAC chip to process the ones and zeros. And to my mind, there is a point of diminishing returns. And that is what I found with the Cambridge. It is what they did around the DAC and the preamp that really make this unit work to output the sound it does, and they did a fantastic job.
With a less expensive DAC, it might not be as good as the Emotiva one you have now. I would be looking for something to beat what you already have. The Topping, Gustard, SMSL, Gischeli (sp?) all have gotten good reviews. Have you watched Randy the Cheap Audio Man? He has a good channel and speaks in English in regards to the sound of these many DACs out here. I do not know what your speakers sound like, so you may want to spend more time on researching what would be the best fit for you. Maybe you will need to save up a few more bucks and get something next month vs today?
I would also look at The Hans Beekhuyzen Channel, very informative and helped with my decision to stick with the Cambridge. And yes, there are better DACs out there, I am not being that arrogant, but for an all in one solution, the Cambridge get's it done. And that is exactly what I was looking for.
