I have gone through quite a few DACs and several streaming setups. My observation is that this is pretty equipment-dependent. On my current setup, there seems to be no inherent advantage to higher bitrates. If I can ascertain the native format of a recording, that seems to sound best, by a gnat's hair. In prior configurations, higher resolutions were critical to the extent they were almost as important as the mastering quality.
Incidentally, if you look at my system for context, it's out of date. I can't figure out how to edit it and am here infrequently enough not to research that.

