I think he's just referring to the AK4137 chip that handles all upsampling. But you're right that the standard r2r modules are still involved. See below:
From: https://www.kitsunehifi.com/product/holo-audio-may-dac/
"The oversampling is done by AK4137, ‘OS PCM’ converts the input stream to PCM no matter it is PCM or DSD, then send to DAC. ‘OS DSD’ converts the input stream to DSD no matter is is PCM or DSD, then send to DAC. ‘OS’ over-samples the input stream. If it is DSD input, it over-sample to DSD256. If it is PCM input, it over-samples to PCM384K or 352.8K ‘NOS’ does no oversampling. send the input stream directly to DAC module.'
From: https://www.kitsunehifi.com/product/holo-audio-may-dac/
"The oversampling is done by AK4137, ‘OS PCM’ converts the input stream to PCM no matter it is PCM or DSD, then send to DAC. ‘OS DSD’ converts the input stream to DSD no matter is is PCM or DSD, then send to DAC. ‘OS’ over-samples the input stream. If it is DSD input, it over-sample to DSD256. If it is PCM input, it over-samples to PCM384K or 352.8K ‘NOS’ does no oversampling. send the input stream directly to DAC module.'