There’s a similar thread over at Music and I contributed a note on this theme. A major reason that some digital listening disappoints those familiar with analog is the very poor analog section even in some of the most expensive DACs. They often compare VERY unfavorably with the "analog section" of a phono pre, which is to say, the phono pre itself. But they are there to do a very similar job.
A DAC may have a sophisticated digital section providing apparent transparency, low noise, space and dynamics to a bunch of instruments that may seem themselves to sound like cardboard cut-outs to the analog aficionado. And some listeners think these DACs are great--especially after good reviews emphasizing those digital attributes. Without providing as much in effort to the analog section though, the DAC will miss the harmonic richness and depth of sound we usually attribute to good analog.
From the point of the DAC maker, most of his potential customers may never have heard a musical instrument except through a loudspeaker. So some multi-kilobuck DACs use chip op amps costing a buck or two at the center of their analog section. Not to mention cheap switching PSs. Color me cynical.
Simply replacing chip op amps in DACs of all sorts with good discrete analog sections has become a hobby to some and a profession for others. Think of what is done modifying Oppos for ex., analog section and PS.
So, if you’re an analog person, as I am, don’t tell me of your disappointment with your expensive DAC. Look inside first. Then we can talk.
And by the way, while amp and preamp manufacturers are pleased to tell you what’s inside their cases, DAC makers often are not. Rather, they sometimes try hard to hide what’s inside. As do many of the reviewers.
