I think it was Steve Gutenberg who recommended a 50:33:17 speaker:amp:dac cost ratio. What if you do something more like 70:20:10? Will you get better SQ out of a more balanced "Gutenberg distribution", given a fixed budget?I think it's more to illustrate a principle - DACs generally have faster diminishing returns than amps and speakers - rather than to be taken literally.
For example say one had a total budget of $10k and was buying new, you could make a great system with say a Metrum Jade / Chord Qutest, Primaluna Dialogue 2 (I think you might like tubes, btw) and Living Voice Auditorium speakers. One can also find a lot of integrated amps nowadays with built-in DACs, and don't at all discount buying used for big savings.
This is so damned unpopular with audiophiles but I'd argue that if you spent 10/20/30% of that budget on room acoustic treatments (bass traps, panels, diffusers), you'd get even better sound than any gear upgrade...