How many angels are dancing on the head of the gray scale circle?
I read through this and other discussions, that no matter how accurate, how "perfect" a step in the process is, there's something inaccurate and "imperfect" about it. Which is my whole point. You do the best, go 90-95% of the way rather easily.
The imperfections start immediately at the front end of the process, whether film or CCD. Even a RAW image is processed, don't forget. Perhaps the film gets scanned, oops, more imperfection, and then perhaps "reverse scanned," to make a color print via laser. Or if digital, there's dealing with monitors. Not just yours, but someone else's if you send them a file. And then off to the printer, a hodge podge of technologies that do amazing service for us. And then, finally, our eyeballs, brains, and even our experience, inform us with with our own interpretation. Which could be a long, long way from what was there when the shutter clicked.
As the lecturer in the video said, paraphrasing, "There is no objective way to discern reality."