I love how, if you do view it accurately, it just makes every other white look washed out and grey in comparison. Our visual system is just one big comparison machine.
macOS/iPadOS cranks the backlight brightness up but then adds a black filter to the non-bright content to sim it back to “normal” levels.
So instead of many bright lights you just have duvetyne and flags everywhere, which many DoPs have complained is harder to work with.
So yes, in terms of data if using linear gamma exactly equivalent to bits. This is why log gamma curves are used to store for eg 16 stops of light info in 12 bit format
Stops describes the range of the exponent b.
With a typical cinema camera, max_b > min_b + 14
You can use tricks like gradient ND filters to increase the perceived range within of a frame or variable NDs to slowly adjust over time (like our eyes do)