Try this test if you don't mind, Doug, on your wide gamut monitor.
In a New Document in ProPhotoRGB in Photoshop create an RGB fill of 146,205,52 on a white background and convert to sRGB.
Do you see as pronounced a shift as what I've posted in the screenshot viewed on your wide gamut space display?
I mean if you're seeing more of a shift that means some folks including myself who edit on sRGB-ish displays may not realize that others viewing on profiled wide gamut displays aren't seeing the colors intended posted online. Just would like to get an idea of the severity of the shift. Of course not all colors viewed as flat fill swatches shift just as it is in most photos, but if editing sunsets and other saturated or intensely colored scenes it may not look right to some degree without the photographer ever realizing it.
So would you say this shift by converting to sRGB permanently changes the images where further editing in that space will most likely make it worse?
Yes, I see a visible shift. It's not that strong even though the Lab values are quite different with a DeltaE76 of 14. The perceptual deltaE2000 is only 3.4.
I measured the colors and the monitor is within a dE2k of .3
For what it's worth if I create a RGB (0,255,0) patch using my monitor's native colorspace I get a huge color shift. In ProPhoto color is (70,243,57) (Lab=86,-128,95). When converted to sRGB it is still (0,255,0). When converted back from sRGB to ProPhoto it is now (138,237,78) (Lab=88,-79,81) which is very desaturated.
If I view both patches with the monitor set to sRGB mode they look identical. With the monitor set in native (wide) gamut the patches are very different.
I would like to this additional note.
The fact you are seeing any color shift at all is because your monitor's "green" is slightly more green than an sRGB green. I know this because I extracted and examined the monitor profile attached to your image. As big as that seems to you it is much worse with wide gamut monitors. Folks that use wide gamut monitors have to be extremely careful when converting to sRGB as there can be very big color shifts. One work around is to just use the proof view settings using sRGB as the target. Then, WYSIWYG when converting to sRGB.