Because those devices (Vault and Element I) are also DACs. Some “streamers” may also have built-in amps. The OP is specifically looking for a (Roon Ready) streamer (and for under $500). The Zen Stream fits the bill here. A Bluesound Node would as well but that has a DAC which it doesn’t sound like the OP needs (so why spend extra money).
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I agree. My thinking about this is that in the Roon ecosystem the streaming agent is the Roon Core, both for local and for Internet-accessed content. And all that is needed at any endpoint is a DAC, connected to a network transport running Roon Bridge, receiving the Core’s stream on a network interface and outputting it on any of several audio-capable interfaces (USB, HDMI, S/PDIF, etc.).
I would call ‘streamer’ a device which could access and stream content outside the Roon ecosystem. Many devices are streamers and Roon-capable network transports in one.
Agreed. And I think in addition to the excellent price point that since Wi-Fi is on his wishlist, the Zen Stream would be a worthy consideration.
If the OP is able to spend a little more (roughly 660 euro), he could get both the Zen Stream and Zen One Signature allowing him to place the DAC (Zen One Signature) anywhere he likes given the Wi-Fi functionality of the Zen Stream (not limited to where an ethernet connection is). The Zen One would connect to the Zen stream either via USB or SPDIF and he would also have his optical input for his TV. Additionally, he would also get the bluetooth connectivity he mentions as an additional desire. Every single bullet on his wishlist is met with this set up.
If I establish the required trust level soon, I’ll happily post both of these for you (OP) for half price or less. I have two Zen Streams and only use one of them. No longer have need of the Zen One Signature. I’ll keep an eye on my stats and touch base with you once I’m able to post to the marketplace.
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I’ve been stumbling on this one. I feel it’s a bit over my budget, but maybe if everyone says that it’s worth it I could push some more money. 
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It’s worth noting that you can connect the Zen Stream to your stereo system using the Spdif output (still getting PCM352.8 and DSD256) spending just the $399 at first then upgrade by adding the Zen Sig One later to add optical/Bluetooth capabilities later when you have saved the little bit more? The Zen functions well as a standalone steamer despite its lack of outputs as long as you can use the spdif to hook up to your speaker system. And… Wi-Fi 
Don’t have to buy both at once to get started! I am a gear collector and over the years I’ve collected Gerd knows how many dollars worth of shiny things that most often do the same thing as each other. But I started with a $200 headphone amplifier, then a similarly priced DAC. And at that time, I built a system that for me was awesome. Since then, I’ve completed a long education in a field that pays well so I can support my audiophile habit.
Sorry for posting again. It’s been so long since I’ve bought or thought about iFi products and I’ve forgotten how much bang they pack for the buck. I just hooked up my iFi NEO DSD because I’ve been having a hard time getting my more expensive DACs to unfold my MQA CDs, and wouldn’t you know… the iFi NEO DSD unfolded every MQA CD perfectly without tripping once and they all sounded superb. Sometime price doesn’t tell you the value of a product. I have sure learned that the hard way as I’ve climbed the audiophile ladder!
FWIT - iFi DOES have a $99USD DAC with built-in HP amp, but it’s very entry-level, lacking any inputs except for USB-B. I bought one to test and gave it to my niece to use while playing The Sims. It’s great for the price, but I think you would be served so well by the aforementioned product that covers all your bases. If I’m not mistaken, the Zen One was conceived to be marketed more toward audiophiles looking to improve their home entertainment systems vs their home listening enviroments.
The nice thing about the iFi ecosystem is that you don’t have to buy everything at once. As I said, you could start you the streamer and just use the SPDIF out to connect your speaker system. Then you could add the Signature One to add a DAC that has USB and optical input as well bluetooth. If relevant to your use, later down the line, say you want a headphone amplifier? Well, iFi offer those as well in the same design as the Zen Stream and the One Signature resulting in a attractive looking stack of 3 audio devices that work seamlessly together to wirelessly stream Roon from a Roon Ready bridge to a multimedia DAC that can connect to a HP amp using 4.4mm - 4.4mm interconnect as to keep RCA free for connection to your speaker source.
I know I’m speaking way ahead of what your original question was, but reflecting back on when I was a budding audiophile, the iFi product line-up was very accessible to me and allowed me to slowly build up an impressive “entry level” set up one piece at a time without feeling I was “missing something” while waiting to add the next component. The most important piece to start with would be the Zen Stream, IMO, connected to your speaker system by the SPDIF output on the back of the Zen which is capable of PCM352.8/Quad-DSD regardless of Wi-Fi or ethernet.
Regarding that groovy looking stack, see below (not the exact products discussed):
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+1 re: Ruby’s comment. There’s NO substitute for a “wired ROON system” over a wireless!
Provide technical reasoning that the common user/listener who has specified a desire for WiFi will understand.
I use Ethernet because I appreciate its benefits. But I don’t understand your one sentence comment and how it adds value to the conversation or helps the OP in his quest.