When not referring to android, but rather to monitors,
DP actually means Dot Pitch, which originally came about from CRT monitors. It refers to the diagonal distance between 2 pixels in mm. In LCD monitors, a pixel is larger, and assuming the pixels are right next to each other without gap (usually there is a very small gap, but for simplicity, we will assume it is zero), the diagonal distance between the 2 centers of each pixel is equal to the diagonal size of the pixel. The lower the DP, the crisper the image.
DP = 25.4÷ppi
0.25 DP is standard, jagged edge
0.20 DP is considered much clearer
160 ppi = 0.158 DP
So DiP is actually a rounded approximation of 1000 x DP, and the 2 are not equivalent, just very close approximations.
As mentioned before, you should not base things off of pixel size since you can zoom. This is for how clear something will appear on the screen.
In monitors, if you want clarity at 20 inches (average distance between monitor to eye) (< 0.20 DP medium clarity/0.16 DP ultra sharp), this would equate to:
1920x1080 (HD) 17.4 inch/ 14 inch
3840x2160 (4K) 35 inch / 27.8 inch
A high resolution phone might have a DP of 0.05 (approximately 500 ppi), or 3 times higher than that of a ultra sharp monitor but viewed 3 times closer.
Anything larger than these dimensions for the monitor size will appear pixelated, smaller would be clearer.
Also noteworthy is that 72 pixels per inch is a Mac standard, and very old. 96 ppi is what Windows resolution is referenced to. Photoshop was originally designed for the Mac.