At this point I believe the better SINAD is mostly just to compete with other (mostly) Chinese manufacturers doing the same things. All the new revised products are meant to fill in price point niches as most people buy audio equipment with some kind of budget in mind. Features you mention like hardware DSP will just increase the price needlessly with more silicon, DSP is better accomplished with a source device/software anyway. There's lots of other things to focus on like beefier power amps, ADCs/interfaces, better AIOs, products with more inputs/outputs/digital outputs, streamers (which can easily have software DSP as well).It’s a well-measuring dumb product. It has great engineering spec but nothing with a potential to improve real or perceived audio fidelity compared to thousands of other boxes. No PEQ, no bass management, no loudness compensation, no crossfeed, no anything that adds value. I think it’s hard to argue it won’t sound the same as a similar component from 2015, or probably 2005. What’s the greatness in that?
Topping right now makes spectacular dumb products. I’m currently listening with one (E50 I think is the model number - DAC with coax input and balanced outputs) in the signal chain - but it’s a cog that could be replaced with a lot of other cogs with zero to de minimis difference. The added value is really on either end of it: the miniDSP SHD Studio processor and Neumann monitors. When Topping starts thinking more holistically, I’m sure they will add considerable value. But another dB on a SINAD chart is more pleasing to the engineer’s brain than the listener’s ears.
On a side rant, I really don't like their design language at all for most of these products. Only their 90-series products actually look "quality" but could still be improved. Yulong/Singxer looks better in my opinion but they have limited products that are comparable in value to Topping. Topping also needs to stop being afraid to make products have have higher vertical dimension so they can include things like more inputs/outputs, digital outputs, etc. that actually add some value to current designs. Perhaps they are trying to keep product dimensions down to save logistics costs. The footprint of the product is already taking up desk space, I don't think anyone cares much if its taller. Practically everything else on my desk is more vertical than this equipment. Does anyone else hate having to contort their hand into their desk to adjust volume? Give me a larger or higher positioned knob please. Or at least make my wallet hurt with a machined chassis.
I have been ready to give my money to topping for years now for my "final" headamp/dac purchase, but the right product has not come along. Happily using my Motu M4 in the mean time.