It’s all about the DAC design/engineering choices, RME offers +3.0dB headroom whereas Benchmark settled for +3.5dB. Note it’s all arbitrary chosen, no absolute targets exists since worst cases can reach +10dBFS.
yes attenuation somewhere in the digital domain , Denon and Yamaha has it somewhere in thier design , it's the total result that counts .
Yes you can convert to 32bit bit floating point math to get like 1500dB of dynamic range but somewhere in the chain you want to get back to an integer format to feed the DAC circuits and then you still have to make headroom , how the intersample peaks manifests is not something the processor can now beforehand so an arbitrary margin is added. as LarsS describe .
This would not be a problem with properly done masters this headroom is really the mastering engineers work to add .
Side note do typical AVR's use floating point CPU's these days ?