Umm, no. There is a DAC in the phone (otherwise the speakers on the phone wouldn't work) but because it is a digital signal that comes out of the USB C port there needs to be another DAC converter in the adapter OR in the headphones. Otherwise, again, the speakers wouldn't work.
So with the new HTC dongle they put a DAC in it. I have a hard time believing they blew the wad on it, but it's possible.
So with the new HTC dongle they put a DAC in it. I have a hard time believing they blew the wad on it, but it's possible.