Can a dac really be future proof?


I’m talking via firmware/ software updates. I do get that some integrated amps ( McIntosh, etc) allows you to swap out the entire dac unit/card or whatever. 
I do get having firmware updates to improve stability, etc while the dac is fairly new. Or even let a new format “ kick in” due to final prep ( example MQA). 
How far can firmware - software upgrades carry you as dac chips and other hardware items improve? I can’t see a dac from 5 years ago with older generations of dac chips performing on par with the latest and greatest. Of course, I assume one’s listening taste is consistent for a particular chip/component. One may actually prefer the sound of an older dac over new one. Outside of that, how many years can software upgrades carry a Dac?

aberyclark
I'm with @onhwy61 You can always choose to go with an old chip that's already "outdated", then no concerns at all about being left in the dust.  I use and Audio Mirror Tubadour III SE and it is much better than the PSA Directstream I was using previously.
I have such a dac and just received a firmware update from Vlad of AudioMirror , though it’s almost twice as much as his own fabulous Tubadour 3 SE dac I instead chose this FPGA 1 bit dac , AudioByte Hydra Vox stack with yet to be released streamer .

Recent dacs PS Audio dac senior, Denafrips Terminator, Rockna SE the Hydra Vox performance is head and shoulders above the others I’ve owned  .
I meant to add the firmware update for the Vox is sound quality related nothing else.