The ES9069Q is a newer and a better chip than the ES9018C2M that the R4 uses. The ES9069Q uses the newest
ESS patented HyperStream® IV Dual DAC™ technology, and advanced SABRE HiFi® architecture. Please see the below picture (which was posted earlier in the thread) that this chip actually has 2 DACs on board. So, I believe that this is comparable to Hiby using 2 of the older ES9018C2M chips in a dual mono configuration for each audio path (PCM & DSD).
The M1 Plus also has other upgraded internal components, for example, dual independent crystal oscillators at 90.3168 / 98.304 MHz where as the R4 only has it's dual independent crystal oscillators at 45.158 / 49.152 MHz. This is important as purpose of the oscillators is to reduce phase noise and jitter. This is just in the marketing of each device, I am sure there are other audio components that we don't know about that differ between the 2 DAPs.
It is silly to say that a DAP is superior based on the number of DACs utilized, not taking into account other audio related components, but as always you will have to listen test on your own to determine the best DAP for you.