Ok, since you asked,
- In my system I have heard differences in the sound of every DAC I have tried (at least a dozen)
- In most cases, the more expensive DACs have sounded better to me, although the differences are sometimes more subtle than large
- The two DACs currently in my main system are the most expensive I have owned, and also the best sounding
- One of them is about 100 times the cost you referenced, as the maximum necessary for good sound, and it is probably the best sounding DAC that I have heard
- Although the DAC sounds great, I can envision a couple of things that could be improved on, IMO
- Whether I ever chase those improvements with a different DAC becomes a personal value decision
- I will enjoy my system either way
- the best way for you to answer your own question would be for you to purchase the $200 DAC, live with it for a while, and then try a well-regarded DAC at whatever higher price point you choose.
BTW, IMO, “snake oil” is a dumb term that is loosely used around here in posts intended to be provocative. The price of something is a value proposition, if you can’t afford it or don’t believe it provides enough value for the price then don’t buy it. If the manufacturer misrepresents the performance, irrespective of price, then that is fraud. Unfortunately, in the audio world, there seems to be a grey area called wishful thinking that falls between fact and fraud.