Yes and no.
You can spend a lakh on a sound card, if you want.
The big difference between the technical sound-card/interface market and the hifi DAC market, is the difference between "technical" and "hifi". Nobody in the technical world would spend more money on something because it had the word audiophile printed on the box ---after all, we don't actually plug the box into anything! :lol:
The question is not "DAC or Sound card" --- it is DAC or DAC: just, they are in different places. I'm not against hifi DACs (who knows: I might even buy one, one day). I am against the marketing dogma that says no system is complete without one, and the perceived "wisdom" that says that you must take only digital audio out of a PC, leaving the analogue-outs of a good sound card neglected, and a bigger hole in your wallet for the extra box.
There is no must about it.
Of course, a particular setup with sound-card/DAC might sound better than one with analogue-out from the card, and both total budget, and how it is allocated to card or to card/DAC is going to apply in exactly the same way is it would if we were talking about a CD player and an integrated amplifier.
The big thing is, that by beginning with analogue-out from your card, you loose nothing. If you decide that your card's DAC is not up to your requirements, you can then go on to buy the external unit. By going out with both on the shopping list, as if one cannot exist without the other, you loose the experience, the chance that you may not need a DAC and the interest on the cash!
Of course, if you already have an expensive, high-grade, multiple-input DAC at the heart of your digital sound system, then you have different requirements, with a different shopping list: you don't even need analogue out on your PC interface!