Paul McGowen made a similar point (-3dB attenuation at the DAC) in his June 19, 2025 "Ask Paul" video.
Also, Dmann777 introduced the intriguing idea of whether this might be an XLR vs. RCA cable question. A decade ago, Mark O’Brian at Rogue Audio suggested to me that under certain circumstances using RCA outputs rather than XLR might be better. More recently, Galen Gareis of Iconoclast Cables was clear in an Iconoclast forum that IF there was no noise or hum and no more than 3-5’ cable lengths, RCA cables are the way to go based on science. I wonder if the digital clipping being discussed is another reason.
I am not a tech, so I hope others -smarter than I about this- will jump in.

