ΔΣ converters ("1-bit ADCs") have been commonplace since the 1970s; typically they use some feedback tricks to get better signal-to-noise ratios than you would calculate straightforwardly. 1-bit DACs were common in CD players throughout the 80s, and the SACD format about 20 years back was a raw delta-sigma bitstream. Unfortunately the Wikipedia article is not very good:
https://en.wikipedia.org/wiki/Delta-sigma_modulationFundamentally, the reason they're especially accurate is that most of the usual sources of error in digital–analog conversion just don't exist in a 1-bit ADC. INL? Zero. DNL? Zero. Nonmonotonicity? Please.
Clover, by contrast, is interesting to me for a different reason: a lot of ANN inference stuff seems to work fine at 8 bits of precision. It'll be interesting to see if those results can extend to 4 bits.