Comment by mrandish

In terms of color spaces, SRGB (the typical baseline default RGB of desktop computing) is quite naive and inefficient. Pretty much its only upsides are its conceptual and mathematical simplicity. There are much more efficient color spaces which use dynamic non-linear curves and are based on how the rods and cones in human eyes sense color.

The current hotness for wide color gamuts and High Dynamic Range is ICTCP (https://en.wikipedia.org/wiki/ICtCp) which is conceptually similar to (https://en.wikipedia.org/wiki/LMS_color_space).