That's why it puzzles me that such a high headroom is apparently preferred by Phase One. I can't believe they think that professional photographers can't expose correctly for the situation at hand, there 'must' be another reason.
There could be another reason, but this discussion has taken place many times here, and none of our Phaseone related forum friends have ever proposed any detailed explanation on this topic.
My guess is that DR in the digital world is a subject that is still a little misunderstood by many photographers, including some of those able to afford a high end back. There is still a widespread belief that highlight behavior is related to DR while we know that only shadows matter for linear sensors. Most photographers are unwilling to change the way they expose to account for the different characteristics of digital. ETTR is only known by a tuny fraction of photographers, 95% of people out these still expose using essentially a grey card.
For someone still thinking with a film mindset, the digital they hate is the one generating ugly and non recoverable blown highlights transitions. In this context, the most concrete materialization of the supposed superiority of MFDB for end users buying them, besides the resolution, is the apparent ability to recover highlights. Considering that resolution is mostly not needed by many of those folks... this highlight recovery story might be the number one factor contributing to the satisfaction of back buyers.
Let's be realistic here, negatives were always less stressful to use than slides. Since even the less digital aware back owner will be able to apply a steep S curve in Photoshop, the behavior that is most reassuring for many photographers is a negative like safe rendering where even large over-exposure has not measurable consequence in terms of non recoverable data. A more slide look will be easy to re-create in post.
The thing is that the raw converters have to be tuned to produce the correct rendering considering the important under exposure resulting from calling ISO100 what is in essence ISO30.
I believe that Phaseone is a lot more realistic about the actual liking of photographers than say Nikon or Canon.
Cheers,
Bernard