This might be true, if digitally connected a mediocre multichannel receiver with really bad phono-in.
A "75 dollar blue ray " is some cheap mechanic - which mainly works or does not - and a DAC with powersupply.
The DAC chip will convert internally to 1 or 4 bit, because that is what cheap Delta-Sigma DAC chips fo. This does not make too much damage, given that the tiny tiny powersupply is not giving consistent support allowing for a proper tonality.
The better mastering of the Blue Ray Disk might sound better than the loudnesswar mastered CDs OLSCHOOL usually listens to, though.