minimum 5.5mm^2 is required, so we are talking about 3575 euros here. Besides, it is very rare that you can get a production grade chip on the first try, bug happens all the time, you might need 2 or 3 or even more tries to get a working product.
the devil is in the DAC and ADC. You just can't turn 16bit/24bit data directly to/from analog without much loss. The 1/65536 accuracy voltage divider simply don't exist.
So, you have to up-sample the songs to high rates with less bits, like 1bit to 6bits, then do the conversion, and get the best SNR you can.
In this sense, there's simply a lot of advantage of using 24/196 since the above conversion can result in less loss and higher SNR