Nobody said RIAA EQ was anything like the number crunching, filtering, and shaping of DACs. This is a weak analogy to begin with - and the idea was that both phono stages and DACs do "signal processing", in a VERY broadly general sense. Which is true, if not very useful.
And personally I feel that the SONIC impact of phono stages in a high-end rig is extremely large - typically much more than the differences I’ve experienced between DACs. We're talking about voltage amplification factors beyond 1,000x (60dB), so there's that. But again, I’ve gone way further into analog playback than I ever did with digital.