This isn't difficult to explain. Most people - including me, probably you and definitely 99.9% of all audiophiles - vastly overestimate their hearing capabilities and lack a basic understanding of the tech behind audio as well as the science behind signals processing and psychoacoustics. The measurements of the DAC200 are desastrous but if you look at the performance in detail, it's pretty clear that most defects will be difficult to hear as is and definitely very difficult to hear without a direct A/B comparison to a competent DAC with instant switching. Let's look at some specs:
- THD + N -68.2dB: Really bad, but luckily distortion-limited. Most people fail to identify distortion in actual music below -40 dB in controlled testing, with some reaching a bit below -50 dB with pure tones. That means anything below -50 dB is pretty safe to go unnoticed outside of a controlled testing environment and values below -60 dB are very likely to go unnoticed even in controlled testing. So -68 dB is just at the edge of "good enough".
- IMD -55.7dB: Worse than THD and could potentially be detected by some people in controlled listening tests using pure tones and quick A/B switching. But that's not how people use DACs: They use them to listen to music or podcasts. So these IMD levels are still extremely unlikely to get noticed.
- Noise is -115.2dBA, DR is 112.6dB. Both are not state of the art, but still respectable values and should not lead to any clearly audible defect. Both are better than Red Book material (audio CD), so not something to worry about.
- FR is down 1.3 dB at 20 kHz, but only 0.35 dB @ 10 kHz and 0.74 dB at 15 kHz. Only about 10% of people over 30 can hear past 17 kHz at relevant SPLs. At 45, that limit drops to 15 kHz for the same percentile. The detection limit for broader FR changes is around 0.5 dB as far as I remember. Therefore, I would expect this to be audible for some people with some tracks, but it will not be blatant. In fact, outside of controlled testing and without a direct comparison to a good DAC this will likely go unnoticed or at best create the impression of very slightly "mellower" treble.
- Jitter looks bad, but is still close to CD quality material and will be drowned in distortion anyway on this device.
And that's just one side of the coin. Most people don't conduct detailed listening tests with their DACs or if they do, they don't know how to do so properly and with the necessary controls. So they might "hear" differences, but those are not the defects of the DAC discussed here, but simply placebo.
No. This is uncommon for mainstream manufacturers, but happens occasionally with DIY and "boutique" manufacturers. I would guess that they simply lack the engineering expertise to properly design and/or measure their products.