Grant, if you set a red colour, and the renderer doesn’t output PRECISELY the same colour (times your lighting), the renderer is wrong.
For if it wasn’t, then a renderer may decide your pure red would be mighty cooler if it looked a tad more toadish green. And then your spheres as cubes, and your straight lines as spirals (perception is, after all, personal, right? Perceptual rendering is something which scares the socks off me.).
All this talk of “photorealism” going amiss in VRay (with a SLEW of BRDFs, provenly accurate radiometric equations, highly customisable render bias) while being present in Octane (ONE specular BRDF. Two tracing modes which fall to bits when a few GI bounces are used, no matter the tweaking one inputs in the controls. ) which can’t even render a pure color, set my blood boiling.
MATHS is king in the rendering world, and evaluating what looks photoreal and what doesn’t should be done -at least in public- with exact references and complete disclosure of the setups used, or avoided entirely, for without objective data backing the claims up, the exercise falls into the realm of rumor (or personal preference. just as worthy, for public consumption.).
Besides this, given the camera response curves are mono-tonal (ie, they simply represent a brightness curve which ain’t linear, but kinky due to the patchy response of chemical film across the ranges), there is no way applying those to a vray render would produce a hue skew like the one you described for Octane.
I am on record OPPOSING the introduction of OCIO and more advanced LuT controls in the VFB, precisely because it would add one more confusing layer for most users, while those which would really work with an OCIO workflow would know they don’t need to see the LWF renders skewed in the VFB by a custom LuT (rather, one would do that in post, lest one ends up chasing fringe values in non-linear color spaces for the rest of time… If any of you ever lit under Log space, you’d know.), so i guess to some it’s no news, but i have yet to see one single case of VFB-baked color controls which can’t be replicated in post and as such, to ME, they are a low-to-no-priority avenue.
We render unclamped (don’t we?), so nothing is precluded to Post as far as image and colour treatment goes.