Few people need HDMI for 2-ch audio - hardly any sources that only provide HDMI out for music.
Few people do multi-channel audio - USB is a license-free alternative, DSD is decoded in the DAC and does not require HDMI
HDMI makes most sense if you are also doing video. In the simplest form all HDMI audio extractors provide a 7.1 DAC to analog and just pass through HDMI to connect to a TV/Monitor. These vary from $40-$300.
At the next level up, you are into pre/pro territory. They have to keep updating as standards change HDMI 1.4, 2.0, 2.1 and then there are HDCP versions to manage, get ARC and CEC right, get EDID right, provide switching between a HDMI and a TOSLINK, a remote, volume control, etc. The Emotiva MC-700 or IOTAVX AVX1 (clones of each other inside) are in the $600-$800 range when they have to do all of this. You also get eq features etc. Next cheapest here is the Outlaw 976. All of these made relatively inexpensive by rebranding Asian OEMs. They don't even try to keep up with all the new 8+ channel formats because of licensing issues.
I would love to have a unit with 2 HDMI inputs with 4k and pass through of video with HDCP, one or two TOSLINK inputs, a high end multi-channel DAC that is good enough for music, a volume control and source switching via a remote to act as a lightweight pre/pro. Other than the Emotiva/IOTAVX/Outlaw above, there aren't many choices. But they have compromises for the price.
You really have to go into 4 figures or compromise in requirements when HDMI is involved.