you should have some kind of reconstruction low-pass filter at the output of DAC
Exactly. I know that in theory this should be almost perfect white noise source up to ~ 50kHz or more, but not being able to quantify it exactly makes me hesitant to make any claims about it. Also, to make it useful for real-world measurements, there should be a high-pass filter at very low frequencies (10 Hz, perhaps).
Some time ago I did some careful examination of simple pulse density modulation (which is often used in direct digital synthesis), using an adder. If you restrict the output dynamic range, for example 8-bit to 16..240 (down to 87.5% of the dynamic range available, essentially as if it was just 7.8-bit and not full 8 bit), there will be at least one transition every 16 clocks, pushing the quantization noise quite high in the spectrum, making it easier to filter out. (In other words, that when using PDM, you can push the quantization noise to higher frequencies by using clock frequency higher than you need, restricting to a smaller dynamic range that does not include 0% or 100%. If your output stage has symmetric rise and fall times, this yields a very linear output after a low-pass filter.)
This, too, is something that looks good and valid on paper, but I think one really needs to test and measure it in real life before relying on it.
(I know it sounds strange coming from someone who does software and is not an EE, but at the core, I'm a physicist. Even when I do simulations or simulators, the first question after the first results always is
Does this make any sense?)