I'll repeat a comment I wrote here earlier:
Our camera hardware supports HDR. RAW image formats support HDR. Our display devices support HDR. Videos support HDR. Smartphones can now record in HDR.
All the hardware is there ready for the future. Yet due to (30 year old) software limitations we're still cutting off HDR data when saving our precious memories as JPEG. All whites become #ffffff. The white of paper. The color of Word's document background color.
The gamut of color has expanded and we need image standards to expand with it.