Could it be that this discussion arises from a definitorial problem?
The analogue stage of a DAC generally outputs a signal akin to that of a pre, so all that‘s needed is attenuation and in some cases an analogue input to handle the phono signal. Therefore going passive or direct from a dac seems to obviate the issues one might have when attenuating a signal from a phono amplifier with a passive.
So it comes down to the quality of the attenator in the dac. Admittedly there are steep differences between say a stepped array and crude digital attenuators.
I run an Antelope Zodiac Platinum which via its balanced outputs can even address Ralph‘s bi-amping point and provides single ended and balanced analogue inputs.