So what? There’s not a single display system that’s capable of exceeding the Rec. 2020 gamut currently and won’t be for a long time if ever. If clipping to Rec. 2020 for final export is unacceptable for you, just give up on any image processing. There’s not a single display standard in existence or in development that has a gamut wider than Rec. 2020.
Given how the Rec. 2020 gamut is defined with primaries on the spectral locus which is as wide a gamut as you can physically achieve with three primary colors, it’ll never happen for a display to exceed this gamut unless someone does something like bring back a variant of Sharp’s Quattron except with a fourth cyan emitter instead of the Quattron’s yellow. The chances of this actually happening are pretty unlikely.
By default, yes. Most TVs default to really awful color and motion processing settings, often called something like “vivid”, which do things like just throw sRGB content at a Rec. 2020 display without actually bothering to do a matrix transform and accept the unnatural increase in saturation. However even cheaper TVs like Vizio have “Calibrated” settings that have fairly good color accuracy. Of course if you want to go all out, LG’s C-series TVs have earned a reputation for being your best option for HDR mastering if you can’t afford a full-blown mastering display (which most people can’t since they’re tens of thousands of dollars…) because their “Calibrated” mode has been determined to be very accurate from the factory. LG C3 OLED Review (OLED42C3PUA, OLED48C3PUA, OLED55C3PUA, OLED65C3PUA, OLED77C3PUA, OLED83C3PUA) - RTINGS.com