More money toward better speakers or a better DAC?


Speakers need quality content to play.  Great recordings sound very good on low end speakers.  Crappy recordings sound bad from great speakers.  Seems focus is well served on improving quality of incoming sound.  The Dac is a huge part of the equation.  
Are we all ‘cheaping’ out by not spending more for a better dac? 
emergingsoul
Some $200 Chinese DACs are better than some $2K,5K, etc.. It's  a very misguided notion that price equates quality. Especially in DACs.
“Some $200 Chinese DACs are better than some $2K,5K, etc.. It's a very misguided notion that price equates quality. Especially in DACs.“

The only person seems to be misguided here is you. Looking forward to your list of $200 Chinese DAC that are better than $2K and $5K DAC’s.  This outta be interesting 😊
I say it depends on what one has in one's system at the time of consideration.

In my case I was using a 10 year old DAC and had speakers that worked well in my room with my current amplifier. I wanted a new DAC, one that was NOS, R2R, and had tube output stage. Bought a Audio Mirror Tubadour III. It made a substantial improvement towards the experience I was looking for.