Love ’em or hate ’em, DACs have gone a long way in the last thirty years, and continue to evolve pretty quickly. The internals of the AKM and ESS converters run at 90 MHz, with stupendous processing power. It’s what makes 4K TV and digicams possible.
That kind of speed makes up for many sins, and lets the noise-shaping algorithms operate much, much better than earliest days of SACD and single-bit MASH converters running at 2.8 MHz. In a lot of ways, it makes the endless upsampling discussions on the forums moot, since the internals are upsampling everything to 90 MHz anyway. Might as well let the chip do it, rather than play games in Roon. (Although converting PCM to high-rate DSD forces the chip to use different algorithms, which will definitely sound different.)
It is a consciously retro decision to use antique Eighties-vintage Philips TDA1541A converters, or late-Nineties Burr-Brown PCM-63 or PCM-1704 converters. Those are true once-through flash converters, with no signal processing or noise-shaping involved. But the least significant bits are kind of marginal, since it took R2R to the limit of what can be done with laser trimming and ultra precise fabrication. Nowadays, speed and good algorithms are the answer.
Which leaves the current-to-voltage converter as the last domain of audio tweakery. Op-amps are way, way better than the 1979-vintage 5532/5534 from Philips/Signetics, but you still find these antiques in consumer DACs. That’s probably where tuning happens in modern DACs, since there is little left elsewhere in the design.
And if you want to "sweeten" things, do it in the power amp or speaker. Much easier to tweak. I think making records sound like ultra-quiet, ultra-precise digital, or making CDs smoothed-out and "analog", is taking away from the strengths of each medium. LPs sound like LPs, and PCM sounds like PCM.
PCM to DSD256 is fair game, though, so why not? It’s what my Marantz SA-KI SACD player does to incoming PCM (it has S/PDIF and Toslink inputs), and an interesting "alternate view" of PCM sources.