More money toward better speakers or a better DAC?

Speakers need quality content to play.  Great recordings sound very good on low end speakers.  Crappy recordings sound bad from great speakers.  Seems focus is well served on improving quality of incoming sound.  The Dac is a huge part of the equation.  
Are we all ‘cheaping’ out by not spending more for a better dac? 
And ladies and gentlemen ---- Robert, aka Atdavid, is now back in the forum!!! Under a brand new user name! Welcome back and what happened with your most recent account?
dannad4 posts09-16-2020 1:15pmIf you are going to tell someone else they lack experience and are only capable of "reading" it is probably best not to follow that up by quoting someone else and using none of your own words to attempt to prove a point. Even worse, is quoting someone else, who themselves quotes someone else to prove their point ... but not really, they just provided a link to an article.

And you missed a big point, or maybe just misquoted me by mistake. I said:  "no practical experience of ownership". Not just "lack experience". 

OK Danna? Or AtDavid? Or Robert? How should I call you now on?
It is more how long lasting  the qualities a DAC has to it’s owner. Not how long a DAC holds it’s place in the market. I held on to my BDA-1 for 8 years. Bought it used, sold it for 2/3rds what I paid for it. A highly regarded DAC that provides the sonics one desires should last a person well beyond 3-5 years. The market value is something else. 

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I am looking at bda3 .  Saw a lot of HDMI ports and got concerned.  What are they all for? This seems heavily integrate and all that stuff inside may not bode well for internal noise.