A single wavelength can't reproduce all visible colors. These pixels are variable wavelength, but can only produce one at a time, so you'd still need at least 2 of these pixels to reproduce any visible color. The fundamental problem is that color space is 2D[1] (color + brightness is 3D, hence 3 subpixel on traditional displays), but monochromatic light has only 1 dimension to vary for color. [1]: https://en.wikipedi…
Human eyes have three different color receptors, each tuned for it's own frequency, so it's already 3d. However, apart from human perception, color, just like sound, can have any combinations of frequencies (when you split the signal with Fourier transform), and may animals do have more receptors than us.