I have an "original" Pontus II (so no 12th or other numbers involved) and I very much enjoy it. Purchased it new a few years back and always felt it was a really good deal for the money.
But I don't think I will be purchase anything else from Denafrips in light of the constant stream of updates. It's hard to keep track of, and seems to tank the resale value of prior models. I fully realize that a DAC is a depreciating asset but even so, this behavior really accelerates the process.
On the flip side, those shopping on the second hand market for a great DAC will benefit greatly from this. But I don't think that's a bragging point for Denafrips to be proud of.
The situation reminds me of Audio GD if anyone is familiar with that brand. I was a big fan back in the day, but things went sideways when they started "upgrading" models every 9 months, and the naming conventions were absurd. I got off that train and never looked back.