Digital to analogue converters are so subjective. I have a few inexpensive Dac's (Schiit Modius AKM4493, ifi Zen Dac Signature original version). I also own an older Audio By Van Alstine Insight Multibit dac from the late 2000's that would retail for about $1200 in the present day.
I find that each of these components sound good to me in the systems I use them in. I have never owned any mega buck dac's, so I really can't say based on my own experience, if their price is justified or not. I do know that I have often preferred the sound of audio equipment that does not test as well objectively as some of their counterparts.
I have heard several of the mass produced inexpensive offerings from China, and find them to be less than involving to listen to. However, I have read some very positive reviews on some of the more expensive gear offered by companies such as Line Magnetic.
It seems that the best audio components are designed with both objective and subjective goals. I remember reading a comment sometime ago in reference to an audio manufacturer, that compared audio design to creating a gourmet food recipe.
The inference was that this manufacturer had a gift for voicing their audio products. And likened this person to a chef who created their gourmet meals with just the right amount of ingredients to obtain the exact flavor they were looking for. Or in the case of an audio component, the specific sound that the audio designer was looking to create.
It would seem that the best audio designers use this concept, and in doing so pay more attention to how a component sounds than how it performs on a bench test.
