On the recording side, of course, improvements have also been introduced today. If they are used properly, this results in an improvement in quality. Many devices have also become cheaper and many more people have access to high-quality technology. That is one side of the coin.
The other side is not so nice. In the last few decades, the music industry has thrived on new recording technologies replacing old ones. In addition to the new releases, money was made by selling old music in the new formats. Unless there is another change, this source of money will be extinguished. One opportunity would be multi-channel. But what happens if this is not a success? Is it wise to release the best possible version? Probably not. You re-release an album in a higher resolution, but at the same time you limit the dynamics.
Because of adamdea's link, I looked for recordings that are on this site and in my collection. I found the Doors, Marvin Gave and Billie Eilish. Raiders on the Storm I listened to in Dolby Atmos and then in my versions.
My versions are: L.A. Woman I have as a CD from the 90s with a DR of 14, as a HighRes from the 2010s with DR13 and the 50th year edition from 2021, with the rehearsal recordings, with DR12.
It would have been very nice if the 50th anniversary edition also had a DR14 or even higher. Vinyl is even better, although vinyl has a limited dynamic range compared to digital, so the original tapes must also have more dynamic range.
This Doors album is a harmless example. With the latest reissue came some interesting archive finds. Other old recordings don't offer this added value at all.
Here's an example I found on the fly.
https://dr.loudness-war.info/album/list/1/year/asc?artist=miles davis&album=In a Silent Way
Not all albums show this trend, but many do.
The limited dynamics also have technical reasons: It sounds better on a mobile phone, the laptop, the car radio, etc. But these people don't buy 24/192 recordings. Whoever buys that also has a playback system that can reproduce greater dynamics.
To return to the topic of the thread: It is also because of the available sound recordings that I consider the technical side of DACs to be insignificant. You don't gain much here anymore. Other issues have become much more important.