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The only thing Shure is missing to turn it into a DAP is a memory card reader and a decent sized touchscreen and a a proper kernal plus the music player app software. In end user cost this is really almost no additional cost meaning they could offer a DAP vs what they have today for only a little more. I think v2 might be the same price but with DAP instead of DAC/amp.
Easier said than done I'd say (unless one goes the Android route). If you look at VentureCraft who's been making DAC/Amps for ages dip their toe in the DAP world (see the VALOQ), it's a great effort however pales by comparison to seasoned DAP makers when it comes to UI.
And of course if they do attempt the Android route (which seems to have some variety too like the Onkyo/Pioneer/Sony or the more customised AK style) but I think the dev and licencing fees are high there too.