Without USB isn't the clock in the Node 2 running the show?
Yes, but:
1 - You can't put USB in the middle and have it magically control the output of the coaxial cable. The coaxial signal (or optical) is one way only.
2 - The only reason this was ever needed in the first place was to improve upon mediocre clocks in the transports by replacing them with the superior clocks coming out in the DACs. So, if the transports had perfect clocks, asynchronous USB would never have been needed. These clocks are now better than they used to be.
3 - There are clock regenerators, like Wyred4Sound's Remedy, and it does work and it is effective but only up to a point. It works a lot better with old DACs than new DACs which have better clock locking circuits.