It is an impressive engineering feat, and certainly better than the Android ones that just pass analog through the USB-C jack, but it's worth noting that this DAC performs worse than what it replaced [1]. Dynamics have less range, there's more THD, and output impedance is lower, so it's harder to drive heavier headphones. I noticed a difference in clarity using Audio-Technica ATH-M50s and Beyerdynamic DT 990 250Ω. Specifically, the Beyerdynamics could be driven "good enough" for me with the iPhone SE jack, but I wasn't happy with how they sounded on the Lightning dongle.
[1] https://ifixit.org/blog/8448/apple-audio-adapter-teardown/