Accuracy of BW in Olympus viewfinder/lcd

How well do viewfinders/lcd screens show BW or luminosity?

Case in point: the first image is the original, the second was converted based on actual luminance and the third was converted based on perceptual luminance (my term but it’s what most people expect different colors to appear as BW).

RGBCMY%20color%20wheel

RGBCMY%20color%20wheel_desaturatedByLuminance

RGBCMY%20color%20wheel_Gradient

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