Agree on your power vs implementation comment. Just providing some quick comparison numbers for his component that doesn't actually list the numbers for the headphone output, which is unusual, except in the day when integrated amps provided a convenience headphone jack but typically not any information on the HP out. And, yes, a strong possibility that there is an impedance issue. AEON has a very low impedance of 13 Ohms.
LOL, 110dB, I think you meant to say YVMV, YourVoltageMayVary!
However, when citing decibel levels we need to be clear about continuous or peak. 110dB continuous is a chainsaw or some rock concerts. 110dB peak is an orchestra, or a cello, or some of the wind instruments. So, nothing unusual about hitting 110dB peak on your speakers or headphones. And the recording also matters, a good recording will not compress the dynamic range and crank up the volume. Specifically, if I am listening to some of the better orchestral recordings on the FiiO X3II with the AEON and hitting +/-90dB peak, my volume level can be as high as 110/120. With a Chesky studio recording, jazz ensemble, 100/120 might be the volume level. Now there are many non-critical sessions when you don't want to approach live performance levels, of course. But, for me, that is where the volume level instinctively goes by ear when listening critically. The FiiO X3II can output a little over 7Vp-p, so a little over 2.5Vrms, thus my comment. And, IMO, the AEON is not hitting it's full stride with that feed. So, yes, very good, impressively good, but it does scale with better DACs and amps.
To your point on the excess power hype: with the GungnirMB feeding the very modest 1W per channel $169 Vali2, the AEON does hit another level. (Excellent tube of course, but not expensive. $25.) Does it perform better with the better amps? I think so, but the biggest jump is from the DAP to the $169 1W amp. Sure, there are other design contributions made with the better amps besides the power increase. Makes you wonder though, why so many of us are spending so many thousands on headphones amps that are providing 8 or 10W per channel. LOL, must be $200 for the first watt and $4800 for the 'implementation' and large power supply.
My recommendation to someone just starting would be to buy the best DAC you can afford, and then a modest, clean amp.