Errrr no.
Displays are 10 bit and the files are often 12 bit LOG / 16 bit lin.
No serious colourist is working on an 8 bit monitor. Calibration isn't going to change bit depth.
By the way, most BMD cameras shoot 16 bit LIN internally. They get encoded as a 12 bit log profile for recording to either ProRes 444 or to BRAW.
I suspect we'll see BMD video assists doing BRAW recording for cameras like the Nikons (and sigma FP and sony's) soon.
JB
From my experience, viewing a graded video image in 8 bit SDR is ok. Ok, as long as the high bit originals are processed in 32 bit float from high bit depth originals. Banding in 8 bit, after grading is very very slight and usually hard to see. Because all the processing and rendering is done in high bit, it doesn't effect the delivery at all. Though there is certainly no harm in viewing in 10 bit, as long as it doesn't effect real time playback on your system.
That said, John is a very accomplished cinematographer who does beautiful work... So, please don't consider this an "argument"
All I mean to say is that if you can't have 10 bit display at the moment, it doesn't mean you can't accurately color correct your work, as long as the display is properly calibrated with a 3d LUT.