> Naturally, we can stick brighter backlights in our monitors to make the difference between light and dark more significant,

It's actually the opposite that makes the biggest difference with the physical monitor. CRTs always had a residual glow that caused blacks to be grays. It was very hard to get true black on a CRT unless it was off and had been for some time. It wasn't until you could actually have no light from a pixel where black was actually black.

Sony did a demo when they released their OLED monitors where they had the top of each monitor type side by side: CRT, LCD, OLED. The CRT was just gray while the OLED was actually black. To the point that I was thinking in my head that surely this is a joke and the OLED wasn't actually on. That's precisely when the narrator said "and just to show that the monitors are all on" as the video switched to a test pattern.

As for the true question you're getting at, TFA mentions things like color matrix, primaries, and transfer settings in the file. Depending on the values, the decoder makes decision on the math used to calculate the values. You can use any of the values on the same video and arrive at different results. Using the wrong ones will make your video look bad, so ensuring your file has the correct values is important.

From TFA: https://gist.github.com/arch1t3cht/b5b9552633567fa7658deee5a...