Now that I've gotten my morning snark out of the way, my answer is that they are both critical but they perform different functions and thus their relative importance is contextually dependent.
I've gotten the most noticable differences in system sound based on (descending order of magnitude)
Speakers/Headphones
Room (for stereo listening)
DAC/Cartridge
Subwoofer placement/integration
Phono stage
Amplifier (tube types)
Preamplifier (with/without tube type)
Streamer
I haven't done DSP but do have a DIRAC unit collecting dust and based on what others say it could fall somewhere between subwoofer integration and amplifier.
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