I were willing to spend $16K for a DAC I would certainly put the Berkeley on my short list.
Fair enough Al, though a $16k converter should at least give the option of DSD64 via S/PDIF. But that is just my opinion, as well as the fact that there is no other reasonable explanation, except for being on a strict budget.
Elaboration will be the fact that there is an additional signal path for DSD (basically bypassing their DSP) necessary for providing the DoP/DSD capability, as well as additional clocking.
And personally even the true statement of yours:
"quality of implementation is likely to trump the theoretical advantages and disadvantages of any particular design approach."
It does not really justify using bunch of OpAmps from DAC chips to output. Sorry, it is again just my opinion.
Best,
Alex Peychev
APL Hi-Fi