The histogram output is the processed pipeline…I don’t understand the before HLR kicks in…its one of the earliest steps… could you clarify…from your logic is sounds like you are suggesting that people stay in sRGB the whole way through?? Again I could be wrong… When you move from a higher gamut color space to a lower one there are out of gamut colors going in to the conversion but they are mapped to the new space and depending on the settings and the software using absolute perceptual or relative mapping so I am not 100% sure what point you are trying to make…for sure I don’t see any raw clipping in this image either???