Or course. I tried it in both full and limited RGB and with various brightness settings. The video was made with the brightness three notches from the top. When you push it to the max it just washed out the details you can see but shadow detail remains invisible.
Keep in mind that I specifically chose a very dark area for comparison. You can see in the FPS footage that it's not always that dark. I just thought it highlighted the issue well.
So, to reiterate, the gamma setting does not fix this especially when using full RGB (which the XO already has issues with).