Been working with some elaborate workflows, seems to be one feature left to do before I can get profiles that look as they should; somehow one need to take the film curve into account. The commercial profiles do, and even some matrix-only profiles seems to be deliberately desaturated to not oversaturate when a film curve is applied. On the other hand it may just be a side-effect of using only matte targets when profiling which typically seems to lead to a slightly under-saturated profile.
This has nothing to do with reproduction style profiles which are designed to look accurate with no film curve applied. Not sure if it's suitable to rely on standard color science models at all in this case.
I think one can let highlights desaturate with the lowered S-curve contrast, but maybe one want to keep saturation in shadows, if so I need to introduce a 3D look LUT. Possibly it will look good if just compensating for the increased midtone contrast all over, that's probably what I will try first.
Adobe has a slightly different curve formula than a pure RGB curve, may need to take that into account too. If we only look at linear midtone contrast we won't though as it then is no different from a pure RGB curve.