Super cool! It went from vaporware to likely shipping this year!
This is what it is doing.
View attachment 400435
I find the claim of 27 bits or 162 dB of dynamic range a bit misleading after having read Jan Didden's article in AudioXpress, where the whole system is described.
J.D. explains that the upper (7 bits) path and the lower path are only combined if the predicted output signal level reach a threshold above -26 dBu analog. From that threshold onward, the combined theoretical analog noise floor after the summing point is no better than the analog noise floor of the least good path, ie the analog noise floor of the "high path", which is -106 dBu (presummably over a 20 kHz audio bandwidth) from the text.
Hence, my belief is that if the signal barely reaches -26 dBu, the available signal-to-noise ratio at that level would be just 80 dB.
Even if the exact threshold and noise levels of a particular implementation would be different that the figures quoted by J.D., the logic of the system would remain the same.
So, what happens is signal dependent noise floor modulation. The rational behind that trade-off is, according to J.D., that noise is masked by sufficiently high signal, thus subjectively non-intrusive.
OK. Fine. That makes sense.
But I fail to see what purpose this system is intended to achieve beyond the possibility to claim to make use of all the 32 nowadays available bits in the digital domain.
What enjoyable musical sound needs 162 dB dynamic range? Here I like to quote Prof. Jamie Angus, who said about that very topic that we are no longer dealing with sound, but rather explosion, and more particularly the effect of thermobaric munitions.