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? 
emergingsoul, outside high end audio, HDMI is ubiquitous. If you want to reach the masses (relatively) then HDMI is the way to go. Likely they have an integrated HMDI receiver chip that supports many ports, and HDMI would power down unused ports reducing noise. 
Intriguing to see HDMI ports on a dominant dac box.

what all can it do?  I like idea of sending Blu-ray’s thru a quality dac, what can it do for other HDMI sources like Apple TV box and cable box.  How far into avr domain is bad going?
Think Amazon HD audio through an Amazon Fire Stick into a Bryston. Certainly makes a statement w.r.t. total system price. Add in your cable box if you are so inclined, maybe your Chromecast HD for streaming, etc. etc.  Perhaps they are taking a different tact towards home theater.
Buy both put most $ into the speaker and buy a Schitt audio DAC Millercarbon is right a proper loudspeaker can last decades with DACs you should almost have a subscription service have one dropped off monthly. Most DACs also have little long term resale and become e-waste. 

I bought a Simaudio 680D streamer dac used at a great price and for now is the most expensive part of my system. I have a Anthem Str integrated amp and Focal Aria 936 floor standing speakers. With the Arc room correction software and the overall higher quality of the Dac and the Streaming component has made a huge difference.