And to add one more voice: We haven't seen any tear down pictures or videos of the WiiM Vibelink Amp so far but I don't doubt it's equally impressive.
The ESS ES9039Q2M DAC chip in the Vibelink Amp is slightly newer than the ES9038Q2M in the Ultra and according to the data sheet ESS did concentrate on quite different things when it comes to what can be (or must be) configured when using it.
Yes, DAC performance is not exclusively about the DAC chip, but it still plays the vital role and WiiM obviously took the same care and used the same high grad components when designing the output stage. You can safely assume that WiiM didn't go cheap here! The new DAC has not simply been chosen to keep costs down.
My favourite tech blogger Archimago did a couple of tests regarding DACs and one of these is the comparison of the distortion pattern (1 kHz) of both, the ES9038Q2M and the ES9039Q2M. The former showed some strange sinusoidally looking pattern over frequency, the latter didn't.
A blog for audiophiles about more objective topics. Measurements of audio gear. Reasonable, realistic, no snakeoil assessment of sound, and equipment.
archimago.blogspot.com
While he doesn't believe the effect to be audible, it certainly does show an advance in design and engineering.