While I can't offer any listening perspectives on Holo or Denafrips the 005 hasn't any defects I've been able to discern in aprox. two years of ownership. I've been through quite a number of general system upgrades, mods, and streaming network changes over this time. I can only say 005 is extremely revealing dac in that it exposes every single little change. It has never sounded sterile, cold or clinical in the way that some extremely revealing dacs can, especially Sabre chip dacs. While I'd not describe it as warm or excessively forgiving, too resolving for that, it has always presented with the sense of real live performers in room. Try as I might I cannot attribute a flavor to this dac, certainly one of most neutral components I've ever owned. That may be a good or bad thing depending on the rest of one's system.
At this point, I'm unsure of full potential of this dac, to that end I'm still experimenting with my streaming setup, rest of system has been fully modded and voiced, no planned changes. To that end I have some server experiments coming, a number of fully modded and optimized mac mini setups and a near SOTA atx based motherboard server. My streamer is set in stone, so we'll soon see the effect different servers has on sound quality.
@digitaljoseph I was in exactly same position as you just prior to 005 purchase, the Denafrips and Holo May KTE, and more expensive dacs such as Aqua Formula, Playback Designs, etc. on my audition list. I was probably the first to purchase 005 in U.S, total flyer on my part, I can only say I've not had any regrets or desire to try another dac since 005. I will say I have bias against Denafrips since purchasing Denafrip Hyperion amp a couple years ago, far too much flavor in the sense of excessive warmth in my setup. I concluded Denafrips plays a balancing game with their equipment, in the sense of playing warmth against coolness to get to neutral, I simply prefer all my equipment to be neutral, as always, YMMV. I presume Holo is top flight dac based on reviewers I trust.