On the subject of Grimm DACs, no the MU1 has no onboard DAC. It is in the same class of product as the N20 and K50, but with its FPGA upsampling board. The other thing that distinguishes it is that currently, it only supports Roon. But as @ghasley said, the MU1 intercepts things and the usual disadvantages of Roon don’t apply to the MU1. Grimm have gone to great lengths to do this.
Now, the truly interesting product which is long overdue is the MU2. I believe it’s about two years late coming out now. The MU2 will have an onboard DAC. Not sure if it will finally launch this year. But I have read that MU1 owners expect to have the option to upgrade to a MU2. I’m not sure how this upgrade works, but sounds good. Another reason to hold off on purchasing any DACs I suppose.
Other forums report incremental improvements in the MU1’s sound with firmware updates (as has been reported with other servers updates too). The most recent being the 1.5 update in December. People report a denser, bigger midrange, however they did report this effect gives the top end less of an edge. But overall thought it was an improvement. I don’t like thinner sounding midranges, that’s one reason I like the N20. Prior to the December firmware release, I read that Grimm had actually overhauled the code that does their onboard upsampling. I like how they present each firmware update as a labour of love, indicating how long they’ve been working on it will all the value it provides.
In one of their firmware release notes they sadly said that they failed to enable the FM tuner hardware that is on the MU1 with their firmware release, with the resulting sound not being up to Grimm’s standards. They announced they were giving up on this notion. I’m thinking this was an April Fools joke, as that particular release was in April. Either way, funny!

