I suspect it's not just the dynamic range. The filters used in the Bayer array will also greatly affect the colour rendering. Some years ago I pointed my collection of digital cameras into a simple slit spectrometer aimed at the Sun. Had the cameras been capable of capturing pure spectral colours, their output would have looked continuous like the top, simulated spectrum. However..... The discontinuous patches of red, green and blue with little overlap are what resulted. The near 'brick wall' filters used are great for colour saturation, not so great for colour accuracy. Note that spectral yellow, cyan and violet frequencies are greatly attenuated or completely missing. And that don't seem like a good thing to me. The differences in rendering can be seen first hand by selecting different cameras in Imaging Resource.com's 'Camera Comparometer'. I recommend the still-life selection of samples, where the different rendering of fabric colours and wax crayons between cameras is quite instructive.