In my opinion - which counts for nothing - no, unless you go proprietary or another DAC method - the AK4490 is my favorite off-the-shelf DAC.
A few years back, the Sabre DAC was all the rage, and I was lusting all over it too not having heard one. Once I got it in my iBasso DX90 and started hearing Sabre implementations in a variety of products, I felt the Sabre house sound was sharp and treble offensive. Got rid of the DX90 and I now avoid the Sabre DACs like the plague preferring proprietary implementations like the MOJO or R2R ladders. Not all is bad with Sabre as I do like the X7 Sabre implementation and the Ifi iDAC sabre implementation so it can be done correctly. However, if you hear the Cayin iDAC-6 implementation of the 4490 and compare to the proper FiiO and IfI Sabre implementations, you will see why I say the AK4490 DAC is much superior in every way.
Even the AK380 4490 implementation is awesome at $3K, but is handicapped by its amp/dynamics. If the Cayin i5 sounds anything like the iDAC-6 implementation and has a reasonable amp, it should be stellar and at a great price. The only other question is Cayin's handling of the clocking in this DAP to maximize the 4490 sound stage and transparency. The Aune M2 does the clocking right and the 4490 implementation with Amp is right, however, the interface/design leaves a lot to be desired. Right now I am holding off on the Aune M2 purchase it check this one out hoping to have great UI and great SQ. If it sounds like I am lusting after the AK4490 now like I was the Sabre a few years back, I am - but now I have a better understanding of the technology and my signature preferences and have a better ear for SQ.
BTW, the Pioneer that everyone was comparing a few pages back has a very low end Sabre SQ in comparison to the Aune M2 4490 implementation which is head and tails above. The Pioneer UI is great, but the build quality and amp is just ok. The wobbly bar on the top begs for removal to be usable/pocketable and leaves screw holes in the top.
If you care about SQ, the Paw Gold is at the very top with the Sony WM1Z/A joining it this year in November and the Aune just below these two at a fraction of the price. I am hoping the Cayin i5 joins the Aune at the top with a superior UI and a great price. I personally would have trouble leaving the house with a $1K plus dap and want the i5 or the Aune for the road.