This is all very interesting, folks.
To complicate matters further, most SACD transports do not export native DSD to a DAC due to imbecilic copyright protections that exclusively inconvenience honest users. In practice, SACD transports only output DSD natively to DACs of the same brand through a secure proprietary interface, essentially making the transport + DAC the equivalent of a SACD player.
Otherwise, sadly, your SACD transport downconverts your DSD signal to PCM before sending it to your DAC. Manufacturers seldom brag about this, or any up / downsampling or format conversions done in the digital domain for that matter. What audiophiles don’t know can’t hurt them.
The idea is to make it too difficult for non-expert users to capture (and, presumably, pilfer) the DSD stream.
Now, Accuphase’s acclaimed duet of DP-1000 transport ($24,975) and DC-1000 DAC ($24,975) plays SACD end-to-end. No shenanigans there; you get exactly what you thought you were getting.
Accuphase makes amazing gear, but it is not inexpensive. A more down-to-earth alternative is PRC-made gear. DRM? What’s DRM? HAHAHA THOSE SILLY AMERICANS!!!
That’s how it goes with 2-channel audio. DSD over HDMI is a different ball of wax.

