Because your DISPLAY isn’t capable
I don't want to be argumentative here, but I just watched the 4k/HDR Blu-ray of Annihilation, with a JVC NX7, Panamorph DCR Lens, madVR Envy, on a 160" diagonal scope screen.It was a completely mesmerizing visual experience. The movie was awesome, and the graphics during the credits at the end were 'out of this world'. If this is an example of HDR being 'broken', then I guess my brain must be broken as well.As the others have been saying, until you have seen HDR done 'right', you haven't seen what HDR can look like in your Theater.
If it has been two years since you played with a Lumagen, then you have no idea what a Lumagen can do with HDR. But anybody that has used a Lumagen within the last year will tell you the HDR is very good with a Lumagen. A Lumagen is pretty much set and forget. Oppo's HDR tone mapping is not in the same universe as Lumagen. Setting an Apple TV to HDR is improper setup for Apple TV. You set it to SDR and match source. Then when it plays an HDR source, it sends HDR and when it plays an SDR source, it sends SDR.
I have seen HDR done right. Its the most incredible picture I have ever seen.. The only place I have seen it look this good is Spears & Munsil UHD calibration disc. They do HDR correctly by rendering into the correct luminosity that you pick from the menu.My point is that the HDR standard is so broken you need a Lumgen to fix it on most material. Some material is almost OK, but all of it has weird issues.The way to do HDR correctly is to do it like S&M did, render more then one target each with a luminosity range for various normally encountered devices. I admit tho, I am not sure if the S&M disc is playing different files or sending metadata or both. If you have not watched the S&M Demo material then you dont know what HDR should look like.
Also.. I am pissed over this HDR mess. So i am argumentative. Please excuse my being grouchy. Im just sick of cramming 4K60 4:4:4 10 bit RGB which is 15Gbps raw down a 30 Mbps streaming pipe with a 500 TIMES compression and a std like HDR which is trying to cram a 15 bit space into 10 and is just created to sell devices and after years is still broken with people needing to buy new gear to get HDR10+/DV..Its the emperors new clothes.So, hahahaha,,, just please excuse me,, im grumpy...
I understand the math involved. While there is a TON of math that can play with the bits in ways that are very pleasant to the visual system, its no substitute to a accurate reproduction of the original bits. I am not using the Oppo to remap. WHy would I do that ? I have found the Sony has some great math, so the Oppo is set to source direct. I agree that a Lumagen migt be fun to do that. BUT. You can't fully defeat the math in the projector, so if you use a external scaler you end up with cascading processing which has its own issues. Also the Oppo has a pretty good physical layer HDMI circuit and that combined with a crazy stable clock, linear power supply and caps in just the right spots on the HDMI output chip and careful analog work on the HDMI circuit the output of the Oppo is really great. Putting in a Lumagen will add a HDMI rcvr chip, decoding, math, encoding, tx chip. That is a lot right there. While I respect the Lumagen its not powered by a linear supply and a low phase noise clock for the HDMI output. The physical layer of HDMI is treacherous and its almost analog in nature. But that is another conversation. Adding a device in-line WILL degrade the picture.You DEAD ON with the AppleTV settings. BUT again if the HDR standard including proper certification then a device would work with the settings your describing. There is a issue with matching source on the AppleTV. I have not tried it on the new one from last week, but, generally true of all hardware. Switching formats on the fly causes a number of weirdnesses. Loss of lock, recovery and in the case of AppleTV it could cause the AppleTV to get confuzed.A Lumagen and work-a-rounds like source direct and setting Apple to SDR just proves my point. The HDR standard is abhorrent.
Buy this... Watch the demo material after choosing your luminosity and then judge your other HDR material.. Plus everybody should own this anyway.https://www.amazon.com/Spears-Munsil-Benchmark-Blu-ray-Disc/dp/B07Q2KBDKV/ref=sr_1_1?dchild=1&keywords=spears+and+munsil&qid=1621831799&sr=8-1
^^ exactly an outboard dedicated VP was always the preferred meathod, and still is! nothing is broken...just nothing is set to utilize the format properly. the S&M disc cannot be used in comparison. its not real world content.
I was a bit miffed regarding the poor implementation of HDR. So I get what you are saying. But many of us have found solutions that are more than adequate. So there are solutions.