I suppose to tell, you could use a conversion program to convert the DSD version to FLAC, then try. If you care.
You are 100% correct. Encoding differences are irrelevant if they are mastered differently.
I took your suggestion and burned a 24-bit/96kHz FLAC using the .DSF file (SACD) as the source. (conversion by dbPowerAmp R16)
The FLAC version didn't sound bad, but it wasn't anywhere as good as the DSD source.
The bit stream version had a much greater soundstage and air.
That was an interesting & enlightening experiment - thanks for the suggestion. I'm glad I tried it for myself.