Yeah makes sense. EL8 was the true Cipher V1 and, unlike drivers, mobile DAC platforms are currently seeing much larger performance improvements in similar timescales. Especially when DSP is utilized. Möbius 3D is a pretty pretty big jump in DSP/computation on the headphone.
100mm planar drivers with Cipher V2/V3 will be a beast. You’re probably right that the Cipher was just in its infancy when the EL-8 was released. It can get loud but ironically I think that the EL-8 sounds way better with Apple’s 3.5mm adapter even if it doesn’t get as loud, or a proper amp. Admittedly unless it’s defective the EL-8 Cipher cable is shockingly inadequate (to the point I prefer not even using the Cipher cable with the EL-8) while the Sine and iSine benefit greatly from Cipher. If I could get that clarity with a full EQ I would be very happy. I still believe in the promise of mobile DACs/amps and I think Mobius will fulfill my ultimate vision of an active wireless headphone that theroetically already sounds as good as it possibly can due to high-quality internal DAC/amp components.