Here is something anyone here can do if you have the gear to playback.
If you have a DVD-A of an album you believe is well made for serious audition and you have the same album in CD format. Get both.
Play the DVD-A and if you really want to be on the ball get a level meter or app. for your smart phone. Play the DVD-A of a track on the disc you are very familiar with. You need only play about 1 minute max. Make sure you reference the db level check.
Now put the CD of the album in the same player. Reference check that the level matches as close you can to the db level you were getting on the DVD-A. Once done re-cue and conduct a serious listening of the same track for the same length of time.
If you can't tell the DVD-A to be better over the CD then I suggest it's you who has the hearing, perception problem. Or you have some sub par gear in your system. I'm not saying a DVD-A is fall of your seat better, but if it is a qualitative test for yourself you should here a better level of fidelity with it.
Now I'm not saying a good CD cannot sound very good especially if you have a good CD player. But if the DVD-A is properly made and in proper playing condition it should be better and anyone who is LISTENING in any real way should hear a better rendition.
A 16 bit 44.1K format can sound quite good. The quality of a CD can be affected by the mastering and production process (LOUDNESS WARS ARE KILLING CD SOUND) and more so by the quality of CD player one uses. CD players DO NOT all sound the same. It is amazing at how much different they can sound from each other. Digital storage is not 100% perfect either. The player must correct for this and a player will be tuned to a maker's taste, efforts and cost input. All can affect the sound of a digital playback.
Hi-rez such as DVD-A or SACD should be clearly better sounding to a CD. Again Redbook CD can sound quite good but Hi-rez is not a placebo effect. It's better and unless you are somehow ill-qualified as listener or a purely casual listener to music and maybe think a Bose Wave radio is real hi-fi, you should be able to hear the benefit of a good hi-rez set up and music selection.
16 bits give up a max. dynamic range of 96db. Overkill in most home listening environs as mixing compression must be made to give us a CD that can be played back in real life. That said at its max 96db will cover most ability to record live cover to the dynamic range limits before compression will be made to it.
24bits gives ups up to 120db dynamic range, way overkill for any consumer use as the recording will have to be mastered down to a lower dynamic range to allow a user to play in any livable playback condition. That said 120db will give the engineer the ability to faithfully capture the dynamics of any music he/she will likely ever encounter live. From that he/she has more choices in compression for the end consumer product.
16bit 44.1K gives us a theoretical freq. response of say 1Hz to 22.5Khz. In most ways it will cover the fidelity we want to hear frequencies. 44,100 s
ample rate is where the debate comes in. Is that enough to give us the nuances we want? For most it's close enough. But 24bit 96K gives us a freq. response of say 1Hz to 48Khz. It more than covers the fidelity humans need/want and even higher freq. for any real or perceived sound or nuances many say they can sense. 96,000 s
ample rate gives us more oh to be simple in terms of debate, the resolution of the signal and that is what likely improves our fidelity. 192K takes us up the road even more with a higher freq extension 96Khz and much more resolution of the signal in terms of sampling rate.
The sampling rate is what really adds to the fidelity of a digital bit stream. 44.1 K in most cases in a properly mastered and produced playback situation on a good and proper operating player will be quality hi-fi and quite enjoyable. 24/96 or 24/192 gives more ability to the recording engineer and the production chain. Making a 16/44.1 dub off a 24/96 or 24/192 master will be very good. Making a 24/96 or 24/192 hi-rez consumer album will be better and should be hear able as such to any listener who listens critically.