These days a 2.5mm TRRS is most commonly 'balanced' stereo. A TRRS cable can also be used for L/R+ microphone channel. This particular noble 2.5mm is a 'balanced' cable, but not every TRRS cable will be wired as such. Double check the description of any cable before your purchase.
Any headphone cable with a 2.5mm male input can be assumed to be balanced. The only male inputs that support balanced audio are 2.5 and 4.4, and they're both more expensive to manufacture than an unbalanced 3.5mm.
That’s more of a limitation of the Lightning port specifications, which I think is limited to 24/44 and 24/48. Sounds great though! I use my iPad hooked up to my $2400 DAC/amp and $1500 headphones because the output is bit-perfect, has less error introduced by computer EMI, and it sounds excellent with Apple Music lossless.
Why use this when you can’t use the lightning-to-3.5 apple dongle with its DAC? That DAC is really good so missing that and plugging directly into an iPhone doesn’t make sense. Does this have cable have a DAC built in like the dongle?
Well, the speakers/drivers in headphones or in-ears are analog devices, and a Lightning port is digital only, so yes this would have to have a built in DAC/amplifier. The Apple dongle does have a very good cost to value ratio (and benefits from some of the largest scale of manufacturing), but certainly the DAC and amplifier could be improved. It’s quite feasible that this cable “system” improves on Apple’s $9 dongle.
But I’ve never heard Noble’s product here, so I can’t make any specific comments 🤷♂️