Welp for starters, consider the case of DACs that use an analog pot for volume control.
They can have a L>R mismatch of >1dB, even with a nice Alps component.
Is that transparent? Arguably not. Could that result in perceived differences in soundstage? Maybe. Could that result in FR differences? Maybe, if your L and R transducers have different FR curves (for instance, some headphones).
But here's the kicker: do we measure L and R channel balance at ALL pot levels on DACS that use an analog pot? Because if we don't, we would miss this channel imbalance. Meanwhile, all of our other fancy measurements taken on our fancy Audio Precision would tell us there should not be any audible differences. Think about it.
Note: Based on all of the evidence I've seen, I do NOT believe that, in general, modern DACs sound different. However I cannot rule out the possibility that a design decision or oversight (whether engineering-driven or not) could result in an audible difference in the occasional DAC design.
The phenomenon is called non-linear tracking and can be overcome by using a stepped attenuator using precision resistors (my preference), a higher-quality pot or measured and compensated in-circuit.
That why it’s good to have ASR , things like these and other stuff would show up
if a DAC sounds “different” it’s a design error somewhere . Or sadly enough a setting, the fad with selectable filters I suspect some of the settings are not transparent in some DAC’s and should not be exposed to end users , could be hidden somewhere for testing purposes .
Many off the very emotionally invested audiophiles does not see what folks here actually says.
Absolutely no one really says “all DAC’s sound the same” it’s small but import bit missing “all
properly designed DAC’s sound the same”
( no filterless NOS DAC for you ) and actually “sound the same” is not really a proper description of the matter there another piece of the puzzle “all properly designed DAC’s are transparent to the source material for a human listener” same could mean equally bad ?
You can get all that for 100$ .
The next misconception.
Audio reproduction quality and price has a very weak correlation. That’s very true , it can even be negative if you buy high end hifi DAC’s that’s not properly designed like an very expensive Audio Note DAC, it’s worse than any wall mart 50$ 20 year old DVD player .
But product quality and maintenance can have some correlation with price up to a point. It’s usually the whole company not only a specific product that’s takes care to design . So sometimes you get what you pay for.
Audio quality alone does not make a good product. That’s why measurement of old products give us insights to this , is the thing up to its original spec 10 years later ? Who knows ?
Good examples here are RME and Benchmark. Cost more but not silly prices and well run operations that makes quality products.