Are DAC's overpriced?

The average blue collar guy can buy a Schiit Modi for $99.  I did.
Interesting you brought up MSB. I have a Full Nelson Gold. Also added a magic tandem PLL in it, and over the past few weeks built God's own (with apologies to God) external power supply - which made a big difference. That thing is still competitive.
G

I used to think DACs made little difference until I tried the Chord DAVE. Whether it's overpriced... well, that comes down to your own financial situation as ultimately value is subjective and cost is relative.

mrkoven-
Can you provide more context on your system, room, listening method, expectations, and findings?
I'll note that discussing the DAVE int he context of budget DACs is kinda silly.... but its nice that you can try such things. I like the qutest a lot.

G

Man, the reply’s here are all over the place. After 40 years of the high end and also working for dealers and hearing everything out there, it doesn’t take long for me to decide to buy when I hear something great without the several thousand dollar price tag. 
My advice in your case is for to you to buy a really good value used stand alone CD player like Rega Apollo and start there.
If you want to play computer audio files, then you will need a DAC. Chord Hugo 2 and Ayre Codex are excellent value and sound and both available used this week on AudioGon for less than $2K. So far,  I have not heard a below $1000 retail DAC that I would buy.
I also find that tube output stages sound a lot more like live music than anything else. Wavelength DACS are wonderful in their musicality and soundstage. 
If you are buying retail through a local dealer, they should allow you to try at home before you buy, or pay for it and return it in a week if not wanted.

Oh, also don’t forget the wire and the power supply. They make a big difference. I use Audience cable, and it isn’t cheap, but their new budget cable Ohno is unbelievably good for the money. Battery power or upgraded switching power supplies for computer audio can make a big difference.