Not necessarily! The Levinson ML6 preamp had two separate chassis's - left mono and right mono. It sold in 1980 for $6K and was considered the best ML preamp.
A well-designed one-box preamp with phono and line stage and internal power supply can be quite excellent! Many examples abound! Audio Research SP14 comes to mind - there is one for sale now on Audiogon!
The ML6 comprised two identical chassis's, each containing a single channel phono and line stage. Each chassis had its own input selector and volume control.
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