Will a $700 turntable outperform a CD player?

I sold my $14k turntable/arm/cartridge because my $7500 dac surpassed the sound of analog pretty easy. A good MQA or DSD cut surpassed vinyl.
I had a very good collection of albums too but most of the new jazz I liked was never produced on vinyl and I get tired of just listening to old poorly recorded songs on vinyl. Plus the maintenance required to keep everything clean.
With digital and with Tidal, I find out new artists and new music constantly and I have the convenience of streaming ripped music to my dedicated audio room or 6 other locations around the house all from an iPad/iPhone.

it's ok to have both, then you'll know

Why such an insistence on either/or? I'm quite pleased by the various vinyl or streaming fashionistas who declare the cd dead, as they're loading up the shops with their discards. My collection grows each week as I raid the local record store; the proprietor, maybe the most interesting and knowledgeable guy, musically speaking, I've ever met says cd's are inconsequential to his concerns, even as he stocks the best selection I've ever encountered and prices classic cd's as low as a dollar. Vinyl may be his bread and butter, but his stock respects a much broader taste.  

I like vinyl very much, having recently purchased a table and a decent selection of good pressings of (mostly jazz) albums. But holy hell, the prices are exorbitant. $54 for a Three Blind Mice label record? $35 for an Impex Records pressing? I get that using analogue masters are pricey, but I have a mortgage and children's braces to pay for. And as paulburnett notes above, even poorly-done reissues, made from digital sources, cost silly money these days.

How about recognizing that "the more the merrier" makes good sense here, instead of claiming that "putting up with digital" is some kind of audio sloppy seconds? 

To reply to the question: It all depends, right? 

It seems like you need to spend around $2 towards a vinyl rig to equal $1 on the digital rig. That is my experience anyway. That is just the equipment. That doesn’t factor in the expensive audiophile pressings that really bring things to life.

That said, I prefer vinyl. I like the ritual of playing lps and love the sound. I’m way deeper (cost wise) into vinyl so I can out‐preform my modest streamer and DAC. I’m ultimately ok with this though. I guess it just depends what you like ultimately.

Definitely all depends. Some of my vinyl sounds better than digital and vice versa depending on release. CDs played on a good 21st century transport always sounds equal or better than the Redbook file. Many tracks are indistinguishable between Redbook & HiRez. I know what music I like and much of it is not available on vinyl. 90% of all recordings are Redbook.