I think you might have read it wrong and that it said 1 DAC, not a 1 bit DAC.... As Lynx516 is correct, a 1 bit DAC does not make any sense.
Basically think of it in this sense. If this was a 1 bit DAC, there would be 2 settings on or off. In sound terms that would be the same thing, loud or nothing. If you want to visuallize it think in terms of black and white. Either there is something there, or there isn't anything.
Now the difference in using a quad DAC verses a 1 bit DAC would be easiest to again visuallize it in terms of graphics. It would be the difference between looking at a picture in true black and white (i.e. no gray scale) or a picture with 16 colors.