Every DAC I've listened to has a different sound signature. They are subtle, but easy enough to detect, with the caveat being that the source files are of good quality and your system is up to the task of revealing the differences.
Spending more doesn't always result in "better". Typically for things to cost less there have to be either huge economies of scale (think McDonalds) or compromises made. It's up to you as to what constitutes "good enough".
As to how much you'd have to spend to realize an "exponential" difference in quality", I don't think that's going to happen.