I am hopeful it is the former.If Asus didn't want to exploit the full potential of the Aqistic DAC why pay Snapdragon for that instead of using the free non Aquistic DAC for the 3.5mm.As per industry sources the license to use Aqistic costs MORE than a Cirius Logic DAC chip.
I really just want the Zenfone 8 to match the audio performance of my S9 Plus or my previous HTC 10.
Let me clear your doubts and throw away some misconceptions:
The ESS & Cirrus logic audio chips used in smartphones are just discrete stereo DACs with an integrated headphone amplifier stage. It has to handle just two audio channels for audio playback only and does so superbly. They are just related to the 3.5 mm audio jack.
Whereas a WCD9385 or WCD9341 are discrete audio codecs from Qualcomm. Functionality wise they have to deliver every audio related requirement of the phone. It has to support:
1) Audio Playback (DAC)
2) Audio recording (ADC)
3) Has headphone amplification stage
3) Audio output through receiver during calls
4) Audio input through microphone during calls
5) Support voice service integration with say Google Assistant, Amazon Alexa, ....
So technically speaking audio codec's are more complex and thus costs more than ESS or Cirrus Logic DACs. All LG QuadDAC phones have an Qualcomm audio codec working at the background which takes care of all these other activities. This audio codec even does playback and sends signal to phone's audio jack when HiFi setting is turned off on LG phones. Same goes for Vivo. When HiFi setting it turned on, LG phones just redirects the digital audio signal to QuadDAC which only takes care of the playback part, while the audio codec chip takes care of the rest.
Not only Aqstic WCD9385 is way superior in terms of fabrication process used, the transistor technology is leagues ahead that of ESS & Cirrus Logic chips currently used in phones. All this adds up cost to the codec.
It may sound absurd, Qualcomm have the money and the technological might to obliterate ESS, Cirrus Logic, AKM from the audio scene... if they want. Its just that they do not see a business scope where they get returns of their investment. We the audio lovers are a small group.