The bottom line, as shown by all concerned including the diagrams supplied by Amir, is that the clock that ultimately drives the DAC in a "conventional" CD player is a fixed rate clock. It is not adjusted in response to variations in disc read speed, for example. Instead, the disc speed is adjusted to keep a buffer filled. No clock adjustment = no jitter (in a perfect world). As has also been pointed out, when buffer memory became cheaper some later players read the data in bursts instead of continuously. This was driven partly by the desire for longer battery life and increased skip resistance in portable players, which often read as much as 30 to 60 seconds of samples at a time.
I find it ironic that the rationale behind 2-box players was that possible noise generated in the drive mechanism was isolated from the DAC circuitry. In solving that problem, they created a new one with the S/PDIF jitter. Were there any models which fed clock back from the DAC box to the drive box?