Hi Tom. This is criticism I've heard before. It is what I would have made years ago too. But I believe if you question your beliefs, as Descartes did, you'll find that you're parroting, as I did, marketing speak. Otherwise, I'm dense and you need to help me some more in understanding your argument.
Dynamic range is two components, right? Range (min/max) and "dynamics" or resolution, around 1-bit per 6db. It doesn't matter what the dynamic range of the source is; rather, we can only pull in a signal the dynamic range of our electronics allow. Further, dynamic range is not fixed to absolute values in the physical world. We choose a reference point.
"Noise floor" is a subjective description. If it weren't, our electronics would take care of it and we'd never try to adjust our gain to put it where we want.
Again, I've gone to great lengths in this piece to explain why we DO know the dynamic range we'll be working with. YES, we don't know the dynamic range in the real world, but we don't work with the real world signal. We can only work with our copy.
Again, if you can, point where, specifically, I've screwed up. THANKS! for comment!