Using that logic of yours, factory software version could be interpreted as version 2.0. So, downgrade again.
As if I knew that the original firmware version was 2.0, or as if even if I had seen the number 2.0 anywhere that I should have ridigly assumed that a lesser number meant downgrade and that any such conclusion should override my correct knowledge of what an update is known and
supposed to entail? The download link clearly stated FW update. Updates are not known to be "limited use" sidegrades, and it's even lesser known for an update to intentionally block further updating or downgrading. Even Microsoft let's you revert from Windows 10 to 8 or 7, and we all know how full of it Microsoft is. But it isn't SMSL that's full of it, just inexperienced.
No, I never saw that little bit you screenshotted, but the information is not worded well and thus confusing, and talks about USB versions, not firmware versions. It was all just a confusing mess. And it isn't a clean cut downgrade; remember, the update
is beneficial for those it's supposed to beneficial for, who're those that need better OTG compatibility. Unfortunately, even this update doesn't fix OTG compatibility for all phones, else I'd be happier with the update. However, even if that were fixed, I'm suspicious that the update introduced a pretty noticeable popping noise that comes up sporadically in single clicks. I don't remember it before, they aren't hard coded in the music after testing, and neither am I hearing them with my other DACs. I'm nearly sure this wasn't a problem beforehand, but I'm not going to firmly conclude anything yet.
Let's end this game for now, and hopefully you could even recognize the poor way SMSL handled this situation. I just happen to be the first one to expose it; if not me then someone else. Not being able to revert is bullshiit, and not including clear release notes next to the main download link isn't up to par. And don't tell me to expect as much from a lesser established hi-fi business from China. As someone with no business experience I wouldn't have ever considered handling the release of a firmware update in this way.
The link direct from SMSL's website I mentioned was taken down. I guess we'll see how things play out.