Exogal DAC chip is PCM4104, which is delta-sigma.
But regardless of it they have proprietary DSP prior to it, and it is a very, very good DAC, expecially at used prices.
I briefly had it - and it was better then OPPO-105, but lost greatly to AYON CD-5 (with 4 1704 chips in differential mode and spectacular 6H30 balanced analog stage with tube rectification). I got AYON used at the price lower then your limit. But it does not support DSD and USB input is crap (not like I care but some people do).
But regardless of it they have proprietary DSP prior to it, and it is a very, very good DAC, expecially at used prices.
I briefly had it - and it was better then OPPO-105, but lost greatly to AYON CD-5 (with 4 1704 chips in differential mode and spectacular 6H30 balanced analog stage with tube rectification). I got AYON used at the price lower then your limit. But it does not support DSD and USB input is crap (not like I care but some people do).