I haven't heard the Modi but I have a Dragonfly Red that I am very impressed with. I've mostly used it connected to my laptop to listen to Youtube videos (with both Sennheiser 650s and MX985s) but I've also had it in my main system. My impressions are that it is very well balanced and doesn't do anything wrong. It separates out images extremely well. It does not, of course, have the weight or purity of highs/tone of my main DAC (EE DAC Plus with Dexa op-amps, VH Audio output caps, Hi-Fi Tuning Fuse, etc.) but it is far from embarrassed, at 1/7 the price.