I'm a sceptic too when it comes down to audio and audio products. That's why I took my time joining this forum in the first place, since I was following for quite some time now.
I own a Shanling Q1. I bought it mainly because I wanted to listen music on something else other than my phone; or if I wanted to, I should be able to pair up via BT and be done with it. My intention wasn't to improve sound quality but it did improve it. Any time I switch to my phone, I realize how "boomy" and "out of shape" it sounds and gets crowded without much context. When I switch to Q1, everything calms down and I can seperate different sounds better. I mean I can still enjoy the music regardless but yeah, I'm glad I gave it a go. To me it's a really convenient little device. That was before great enlightenment tho. What I realised over time that I could manipulate my listening experience via EQ which I tinker with it time to time and almost get any sound signature I desire. Even that "boomy smart phone sound signature", yeah, it's that easy. I have 3 pairs of relatively cheap IEMs and I can manipulate their output too. For example BL-01 was "real muddy" as you folks describe it, when I used it out of the box. I lowered some lower frequencies, raised some upper ones, tweaked with lower-mids and here it goes; a really fun, relatively tighter sound signature. If I had free time and money, I could go beyond that and try new audio players and whatnot just to see for myself. But for now, $120 device solves my problems to the extend that if it gets broken or something, I would go buy another one.
I share this because I've seen some topics where people discussing if its "viable to use EQ or not" (I think one of them was on a FH3 discussion topic, either in this forum or another one) in order to get the sound you want from your DAP or your earphone. If it's the music that matters, I don't see the point of this argument. If they manage to produce a good IEM or a headphone that seperates sound good enough and does a good job delivering it, I should be able to use technological advantages of the products I own (which in this case an EQ). I'm not gonna sit around and wait for them to come up with a product that pleases my desires. That probably would outlast me. I don't know anything on professional level audio (and audio equipment) and I don't want to sound like I do but that's my outlook on the topic. I can get the appeal of trying new IEMs since they alter the sound beyond EQ but I don't see the appeal of much expensive portable source other than balanced output and power it provides. I'll continue to try new gear if I get the chance and see and hear for myself in the future. But for now that's how I see things. I'm really sorry if I sound ignorant, it's probably because I'm since I didn't experience what you guys got over the years.