I wonder if it fundamentally only really makes sense for film, video games, etc. where a person will actually tune the range per scene. Plus, only when played on half decent monitors that don’t just squash BT.2020 so they can say HDR on the brochure.
>>johnco+(OP)
Even without tuning it shouldn't look worse than squishing to SDR at capture time. There are are significant ecosystem failures that could be fixed.