For this kind of money, performance like this has pretty much never existed — but if there's a 1.5 dB drop at 20 kHz, then you think it's terrible

The amp sounds fucking great, it's a best buy, and you just pass it by — congrats.
But you have to have a lot of blinders on for that. Personally, I find the price very high considering the power and measurements, especially for a manufacturer like SMSL, whose warranty is only available through specialist retailers and has no repair options.
Just a small selection of alternative amplifiers.
The NAD 2200 was better over 35 years ago and has significantly more power. Even at 8 ohms, more comes out than at 4 ohms with the PA-X. For that price, you can get two used NAD 2200s.
The Sabaj A30a has the same power, but better measurements, no load dependency, and is cheaper.
The 3E Audio A7 also has the same power, slightly higher max power, significantly better measurements, and is significantly cheaper.
AUDIOPHONICS AP300-S250NC €549, higher power, better measurements.
AUDIOPHONICS AP300-S500NC approx. same price, more than double the power at 4 ohms, almost 3 times the power at max power, better measurements.