I was also having a old Pioneer DVD player that I purchased in 2007 for around 3,500. Now that dvd player is in use for CD playback from more than 5 years routed via a co-axial cable and an external dac (schiit modi 3).
Very honestly there is no qualitative difference. The only difference is the visual appeal and the build quality. NAD was build heavily and this Pioneer DVD player is flimsy in comparison to NAD. In all these years just one change of lens, no other repairs.
So my conclusion is if there is a good sounding DAC available then even a normal CD playback through a player like Philips etc can sound equally good