Considering Falcon 4.0 was released in 1998 and simulated only one aircraft.. Yes, it can be topped. Even with the impressive BMS version of Falcon it does show it's age.
And the prime benefit of DCS is the ability to integrate multiple modules together, something that was only a pipe-dream at the time Falcon was released.
Yes, Falcon 4.0 was impressive simulation _at the time_ but it does have it's limitations and it is not even sold anymore anywhere.