You're not wrong, iPhone only supports AAC, so the transmission protocol would in any case be AAC and not LDAC.I have an iphone, which, as I understand, doesn't support that codec. Right? Or am I wrong on that because the DAC in this case would be providing the LDAC codec instead of the iphone?
However, even with the same protocol used, the DAC should have superior performance for better digital-to-analog conversion compared to the integrated chip of a cheap amplifier. However, it is fair to underline that the qualitative difference may not be audible, or in any case be submerged by the distortions inherent to the AAC protocol.