Not at all. A digital-to-digital converter, which initially sounds superfluous, but what it does is both re-clock the data and give you the option of using different inputs on your DAC. So if you feed the DDC a USB input from your streamer you now have the option of using superior AES/EBU or i2S outputs to your DAC. The benefit of this can vary depending on how the DAC’s inputs are designed, but in the case of my Pegasus the improvement of the DDC and going to i2S was substantial, and I’ve heard similar results from others who have the Pontus II. @vthokie83 can maybe attest to and expand on that. Incidentally the reviewer of the Pegasus also reviewed their Draco DAC and found very little difference sonically between it and the Pegasus and only costs $750 (but a current $38 coupon on Amazon knocks it down to only $712), so that and a DDC could be a relative bargain.
https://soundnews.net/sources/dacs/musician-audio-draco-r-2r-ladder-dac-review/
Something worth thinking about is you could have a Draco and either a Pisces or Iris DDC for not much more than a Pegasus alone. Definitely an attractive option.