Where does it imply it includes a pre-amp? I see it simply as a power amp with analog and digital inputs in which case it's a good fit with the Ultra and earlier streamer/pre amp models
The very definition of a pre amp is the facility to choose between inputs and control the volume.
If you already have an Ultra, why would you want extra inputs on the amp, given that you'll then have sources going into the Ultra which use the Ultra's sub facility, and other sources going into the amp which don't.
The Ultra is, to give it its correct, full monicker, a streaming digital DAC pre amp. The only thing it's missing is a power amp.
What are Ultra owners supposed to do with this? How are they supposed to connect to it? Digital? In which case, and presuming you have all the EQ/sub, etc. facilities in this amp, they're redundant in the Ultra. Or, it's just like connecting to an external DAC, but an external DAC which has a built in power amp. But if this is £300, how much better can either the DAC or amp be?
Or maybe you connect the Ultra to the amp using analogue. In which case you've included an unnecessary digital section. And let's hope that there's a direct/pure mode, by-passing the ADC in the amp.
Clearly we need to wait for more news and specs, and even after that we might need a bit more information (we did with the Ultra).
But, as of now, this appears to be an item which is on the one hand designed to go with the Ultra, but which on the other duplicates a lot of the Ultra's functionality, unnecessarily.