I would imagine constantly aiming higher is so when implementations occur in various products, there is headroom for things like DSP and other factors to be less of a detriment.
What I mean is, if you start off with a DAC design that is 120dB SINAD or w/e, it pays to have such level of performance if for instance for whatever reason the AVR or some specialized device you're making has tons of distortion that gets fed in to the processing, can now have less of an impact on the overall measurement in the end.
Personally speaking though, I think DAC's have conquered ages ago performance-wise, with respect to noise/distortion. Now all I care about is seeing proper measurements elsewhere, and featuresets. By that I mean, I want the eventual device to be free of jitter, also one with proper filters (ESS does these better than AKM even with there 4499 out now), and from manufacturers, I would like to see them compete on a field that RME has created (insane creature comforts and tons of options). Performance regressions should be kept to a minimum while doing this, and having these newer DAC chips, allows any regression to be less felt (like if for instance the FPGA implementation you build around your eventual DAC degrades performance by like 5 or 10db, that's much less of an issue than if the same DAC was using a chip that performs at best something like 80db SINAD).
I realise that this might be an academic issue as far as audibility is concerned but there is a strange delight in the progress of technology and engineering prowess?
Yes to this, I don't mind rewarding companies with my money for pursuits of pushing engineering ahead. I literally wouldn't understand the point of life (or a fulfilling felt one) if everyone said "good enough" to everything in their lives.
I only wish I had actual knowledge where I could technically appreciate these advances from a specific design view. Seeing 120dB SINAD is great, but seeing, or knowing what the designer actually did to delineate themselves from others to get there would taste sweeter. Only problem is, I'm uneducated in many of the concepts involved in electronic engineering, and am slowly learning out of just genuine interest and from the insanely well experienced people on this forum.