An Airplay speaker is my stopgap measure for my current (tiny) living space and maybe I will take another look in 5-10 years. I prefer listening with my headphones anyway.
For hundreds less you can easily build a near-identical system. For example: Audioengine A5 + Audioengine S8 + Behringer UCA202. DACs are grossly overrated when it comes to their influence on sound quality. Regardless, the UCA202 measures outstandingly well.
For somewhat less you can easily build a much, much, much, much better system. For example: Audioengine A5 + Audioengine S8 + Behringer UCA202 + MiniDSP 2x4 + MiniDSP UMIK-1 + Room EQ Wizard. This nets you basic room response correction, plus an active crossover between the speakers and sub. Configured well, you could get a more linear response, better imaging, and better bass integration.