Sure. But DA conversion works flawlessly in OS mode and a fair share of the price is in the cost of R2R module. For example Cyan 2 is even more expensive, but it doesn't have oversampling mode out of the box - just NOS, no EQ, no screen etc. So just to put things into context, this DAC is the cheapest R2R that actually measures great afaik.
It seems that Topping made this DAC for a different crowd and stabled a bit with the features. So not great, but nothing serious...
I do believe that there are quite a few things to unpack.
I have always tried to be consistent, in the sense that all things being equal and everything operating normally, in a practical sense it won't be audible to me whether an R2R dac is inferior or superior. So it would down to 1) The desire to get an R2R dac 2) the features, build, quality (as in, it doesn't break).
The only thing I can say is that if I decide to get an R2R DAC, I will be fully aware that is in irrational impulse, based simply in a desire to buy. No audible difference or superiority of R2R implied here, just to let you know that same as my love of vinyl, I fully understand it is just that.
Then, obviously, the most important thing is reliability, build, quality and price. If a device has that, I will be happy with it, even if I cannot tell it apart from a Schiit Modi.
Last, someone back in december replied to the question of why make a product like this, answering with "Money" as if it was really an issue. A pet peeve of mine. Money? Of course captain obvious!

It is a commercial product in a capitalist system, so, well, of course. What did you expect? Same as everything.
The right question would be, IMHO, why is there a market for this? Then we can have a serious discussions on audiophilia and why using old technology feels to be necessary for a segment of the market. IMHO, there is no need, except I am a dum-dum and sometimes, I just want stuff for any reason. Horses for courses. Again, as long as nobody promotes myths, all good, IMHO.