I’m of the opinion that the Ultra is extraordinary value for money (though I’ll caveat that * ).
For several years people posted here asking for Topping to add PEQ to their DACs, and the reply came back that it would be too difficult to do well.
Just forget the streaming side for a second, just a DAC with PEQ, sub out, and bass management for $320 is above and beyond. Add in the extensively capable streaming functionality and usability, and this is a complete game changer.
* Caveat. In the current market, it’s great VFM. But given that WiiM have added PEQ to the £90 Mini, one is left wondering whether WiiM have conducted witchcraft to manage this, or if other manufacturers simply been too lazy, or to inept to spot the hole in the market. I’ve long suspected, and the Ultra appears to confirm this, that signal manipulation in the digital domain is actually relatively easy and cheap.