All depends. The sound will vary on the digital techniques used, the analogue and the physical components - including over temperature and input/output impedances. Then there's the question - will you like the sound?
A cheap DAC is often a cheaper, older, DAC IC coupled with cheap components (ie lax tolerances, fake brand caps etc, high ripple power supply etc) with a simple design that focuses on cheap manufacture. Even things such as non-polar caps being not installed the right way for lowest noise. That same cheap DAC IC could sound decent given a decent design and normal components.
Expensive DACs - or more precisely DACs built with sound in mind, take the later technology with stringent selection criteria and pair with low noise designs, tighter tolerances and component matching, additional components for reducing noise from ripple etc. Sometimes that's as simple as having additional PCB layers, thicker layering, or larger PCB (space reduces interference) that requires a bigger box.
If you look at a discrete 24bit ladder DAC, you'll start seeing that the tolerances for the lowest bits (smallest variances in sound) have to be extremely low - 0.01% resistors and at that level you're looking at temperature effect on stability, matching the resistors for balance (0.01% still has variances). However at the same time, the size of the number of people that could hear that difference drops.
The majority of $ nowadays goes into the digital side, reducing the digital noise and improving the reproduction of the analogue sound once converted into digital imperfectly.
I'm looking at DSD512 next. That's a 1bit sample but at a rate 512x a CD rate. The benefits are DAC noise is shifted way up.. into the MHz range that can be filtered out, the rate allows for more accurate slew rate (although 1bit at a time) and the final thing - the DAC conversion process is literally an ongoing average sum of either full power or zero power (no finniky tolerance issues) with a simple low pass filter to remove the inaudible DAC noise (it can cause problems with audio equipment). It's so simple that someone actually designed a non-chip vacuum tube DSD512 DAC which I'm currently adapting the design to play analogue and DSD512.
However converting from analogue to DSD still has the same issues - people not converting 'natively', mixing/editing at a lower rate etc etc - so in the end a high cost or low cost.. if you put crap in..