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Pixelfed's first plateau in progress
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Yes. JPEG is limited to 8-bit (which works well with rec.709/sRGB) and modern displays and cameras capture much more than that (typically 14).
sRGB has a very limited color gamut, and using a wider/HDR color profile (eg rec.2020) with only 8-bit per subpixel would result in colour banding.
I don't want to limit my photo development with poor color definition.
Thanks for the links (I'm already subscribed).