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I think the Merason is the technical most capable dac of those, personally I would not go to atoll or moon for a dac but for a brand that is specialized (or known for) its DAC’s.
If you want a DAC that goes next level in terms of technicalities and presentation and have some to spend, maybe look at Lampizator, SW1X, TotalDac. These bring next level performance while retaining musicality and would be my first picks for brands.
There is also the likes of Chord, Berkeley for a more clean, maybe more analytical approach. Sometimes that pairs better if you already have a very warm sounding system.
And there are many more brands to look out for DAC-wise: aqua-hifi, emmlabs, bricasti, rockna, schiit, denafrips, nagra, holo-audio, metrum acoustics, sonnet audio, …
There is no best, it will come down to preference and synergy. There is however a difference in technical abilities and presentation once you go up. There is no golden goose, with the brands I mentioned you can expect a performance (gain) more or less in line with its pricepoint. There are however other hifi brands (not specialized in DAC’s) that also charge these prices without the gain in technicalities, but more based on the expectation tied with the brand I suppose, so sadly the rule of more expensive is better is not universal.
Anyways, this is my 2 cents, as we all know in audio, the next guy might have completely different experience. Hope it helps.
Hi, I own an Atoll ST200. I am happy with it, but I need to go beyond because I bought Cube Nenuphar and Tektron Two….I am considering the Merason DAC1 , go up with Atoll ST300 or Moon 280 DAC. You have heard all of them…wich would you choose. Mostly I listen jazz . Un abrazo from Chile