I agree that implementation is more important than the actual parts (in most cases) and that individual components will cost waaaay less than a manufactured product. I also agree that r&d costs money.
But come on! This is Meridian we're talking about here! Surely their engineers didn't need THAT much r&d to make something like this. They're already doing the Director and Explorer neither of which is a world away from this limpness, plus they have oodles of experience in dsp and hifi in general - so I expect them to whip up something like this in a matter of weeks.
As for implementation, I don't see much here TO implement. It looks to these untrained eyes like a re-configured explorer, to be honest.
Finally, what's with the mini-usb input? Seriously, what's up with that on a desktop dac/amp? Appears they anticipated a much larger demand for their explorer than has realised and now just looking to get rid of parts they ordered...