I used the 16 million colors 16-bit TIFF provided by @Wlodek (See above) to test this speculation … and confirmed that the Gamma slider on the Luma channel does do a better job of “brightening” an image - c/w using the Gamma slider on the RGB channel.
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I created a VC of the image, and applied Tone Curve = “Linear” for both the (M)aster and the VC versions … then;
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For the (M)aster version, I set the Gamma slider = 2.5 on the RGB channel - - and the Gamma slider = 1.0 on the Luma channel.
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For the VC version, I applied the opposite settings … setting the Gamma slider = 1.0 on the RGB channel - - and the Gamma slider = 2.5 on the Luma channel.
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Then, using the Compare button, I checked the result on both versions … to find much better colour retention for the VC version - whilst achieving “just-as-good” brightening (according to my eye) to what was achieved for the (M)aster version.