Wanted to pitch in my 2 cents on the r2r dacs I have had the fortune of trying in my system i.e. Denafrip Ares II , Soekris 1021 R2R(#rd or 4th rev), Holo Spring 1 L1, Metrum Acoustics Jade(owned for a very short duration), Sonnet Morpheus & Audial Aya 5 . , so IMO this is how I would rate them for my chain/experience (genres of music I listen to is pretty much varied , don't listen to Carnatic, western classical , metal , electronic music). This is a very subjective take and purely based on the listening experience for DACs I owned.
i) Bass - Sonnet Morpheus ~ Audial Aya 5 > Holo Spring 1 >> Jade > Ares II > Soekris
ii) Mids (Vocal Tone) - Audial Aya 5 > Sonnet Morpheus > Jade >> Soekris > Holo Spring 1 > Ares II
iii) Mids (Forward to Recessed) - Ares II > Jade > Soekris ~ Audial Aya 5 > Sonnet Morpheus > Holo Spring 1
iv) Timbre - Audial Aya 5 ~> Sonnet Morpheus > Jade ~ Holo Spring ~ Soekris > Ares II
vi) Treble Energy/Sparkle ( Sparkly to smoothened ) - Holo Spring 1 > Audial Aya 5 > Sonnet Morpheus > Soekris > Jade >Ares II
vi) Soundstage Width & Depth - Sonnet Morpheus ~ Audial Aya 5 > Holo Spring > Soekris ~ Jade > Ares II
vii) Microdetails , Layering of instruments - Sonnet Morpheus > Audial Aya 5 ~ Holo Spring > Jade ~ Soekris > Ares II
The above observations were using a fairly resolving headphone chain and are relative to one another so the sparkly highs in r2r here might still not suffice for some and vice versa. Also goes without saying the synergy is chain dependent and there is no one size fits all for dacs.