The way I see it, native is still preferable.
The problem is not all DACs are created equal, and some will sound the best at a given resolution (most likely the highest they support). Thus, the T+A doing DSD512 or the Aqua doing 24/384. Since we don't have that many recordings in DSD512 or 24/384, enter the SGM to upsample everything to those resolutions! While you're upsampling anyway, SGM will also allow all the HQplayer filter settings to come into play, offering great adaptability.
Also, not all recordings at 24/384 sound the same, thus not all upsampled PCM will sound the same either, at least not with the SGM. You have to be one of those DSD haters to imagine that "all DSD sounds the same"... No, it doesn't
Mastering still matters, so how good a recording is will largely depend on its mastering, not so much its format.
My reference DAC, the MSB SELECT, is incredible at 16/44. No upsampling. Nothing.
cheers,
alex