Way too simplified. You have to look at the error rates and the latency. In theory it’s 1’s and 0’s, but it’s when they arrive and if the sender / reader is working correctly at that point in time. For computer stuff, there can be buffers and resends, but for real time audio this is generally not what happens, as it’s ‘real time’ listening. In general audio is very small banana’s in terms of bandwidth.
There is a very limited number of current processing chips from a few manufacturers. Where the differences are is in the physical interfaces, the ‘add on’ software some manufacturers add and the power supplies.
NAS devices, there are quite a few types / manufacturers but they will use either RJ45 Ethernet connection, blue tooth (for streamer / NAS), USB or wireless Ethernet generally. Where as DACs use USB, Co-Ax, AES/EBU, Bluetooth, some use wireless Ethernet, Toslink, AT&T. Each type of interface has it’s pro’s and con’s. Generally wired is a more reliable method of digital transport (less latency and errors).
My personal view of streaming, having tried it quite a few times / styles with .WAV & .FLAC files, is that it’s sort of OK for non-critical listening, but it lacks the music experience and I get bored with streamed music much more easily.
My point was that although the theory is that 1’s and 0’s are just that and no more or less, in reality until you have physically tried it, then all bets are off.