It seems the AK discussion needs a little bit of nuance. I didn't feel particularly called to do so, since I am not a fan of AK as a company to say the least. As a paying customer, I absolutely detest their cannibalistic product strategy of releasing new flagships and lineups every 1-2 years. It's one thing to charge the most for your flagship product, but the fact that you get to enjoy it for such a brief period of time before special editions and teasers for upcoming models make it feel outdated feels almost insulting.
That being said, I also can't go along with calling it overpriced because it is (ridiculously) expensive. I feel there is a significant difference with other daps in terms of looks, build quality and sound. For starters, the elegance of an AK player is simply uncomparable to the plasticy feel and simple build of lesser daps. Even so, I'm not one to care much about design, ergonomics, or UI. The only thing that matters to me is the sound. An often heard claim is that a DX200 for example will get you 80% (or 90%) of the way of an AK. But making such a comparison is the same as what owners of a $300 iem say about a $2K iem, which is just as true. A dap like the DX200 might be able to offer the appearance of a resolved image, but it lacks the finesse of the AK throughout its presentation. The end to end extension, the authority and sustain of its notes, the ability to maintain separation under increasing complex passages, and the treble definition and speed, are all examples where it falls behind the Ultima.
Just to be clear, these are all subtle differences, minute perhaps for many people. So whether or not such differences make the price difference warranted is very much a personal matter. But one thing that is for sure, is that these differences are more readily noticeable once you are accustomed to a top player and go down to a lower priced one, compared to when you are accustomed to a lower one and briefly try a higher priced one. The difference between an Ultima and a random affordable dap is akin to driving a BMW or a Volkswagen Golf. Both will get you from A and B in one piece. Both can go fast or slow if required. But its in aspects like acceleration, steering, and stability, where the BMW displays more finesse in the overall driving experience, besides the premium look and feel of it (although that might be enough motivation for some).
Besides performance aspects as resolution and staging, the AK380 Cu and Ultima Cu have a uniquely beautiful tone that, in my opinion, keeps a safe distance from any other player I have heard. But I would also rate the regular AK380 very high; even higher than the WM1Z when it comes to performance, although 1Z is also very good (and actually has a better stage and imaging than the Ultima Cu, it might even be more transparent). Another favourite player is the Lotoo Paw Gold for example, which is perhaps as enjoyable as the 1Z and AK's, but also misses finesse in terms of true resolution, top-end extension, and smoothness. However, it offers the densest, most bodied midrange, and combines this with a particularly engaging signature. The LPG in turn I would still rate noticeably higher than the ca. $1K daps I tried in terms of both performance and enjoyability.
The point of the story is that daps like the DX200 offer a fantastic sound for their price. In their coarse presentation, the grander scheme of the sound, it is indeed more than fine and some might say comparable. And of course there is no question that its price-to-performance is miles better than an AK Ultima. But that doesn't mean there is no noticeable or even worthwhile improvement when moving to higher players. This is the audiophile industry. You are required to pay ridiculous amounts for an incremental better sound. But that shouldn't be any news here right?