Oh that's normal then. There are mandatory steps of dynamic range reduction in the video editing / color grading pipeline (like a compressor in audio production). So the whole information is not lost but the precision / details can be yes. But that's a weird definition, there are so many photons in daylight capture that you could easily say we really need minimum 21 bits per channel minimum (light intensity of sun / light intensity of moon)
> So the whole information is not lost but the precision / details can be yes.
That does not seem a meaningful statement. Information, and by far most of it, is necessarily discarded. The creative task of the photographer is in deciding what is to be discarded (both at shooting time and at editing time) and shaping the remaining data to make the optimal use of the available display space. Various ways of competing dynamic range is often part of this process.
> like a compressor in audio production
Audio is a decent analogy and an illustration of why it is a subjective and creative process. You don’t want to just naively compress everything into a wall of illegible sound, you want to make some things pop at the expense of other things, which is a similar task in photography. Like with photography, you must lose a lot of information at it, because if you preserve all the finest details no one would be able to hear much in real-life circumstances.
But that’s not seen at the sensor - at least not at once - look at the sun and then look immediately at the dark sky moon (if it were possible) - the only reason you get the detail on the moon is the aperture in front. You couldn’t see the same detail if they were next to each other. The precision is the most dark in the scene next to the most bright, as opposed to the most dark possible next to the most bright. That’s the difference.