It has to, Feri. How could it work if it didn't? The point of DEQ is that it does raise the level of the quietest parts of the content when the MV is below Reference. It does it to restore the balance that is lost because of the way our hearing works. And if it raises just the quietest bits, but leaves the louder parts untouched, then the dynamic range has been changed,
Keith, this is complete misunderstanding of some members here of what DeQ is doing. First of all, it doesn't touch the level of the incoming signal,.. what is soft in will be soft out, what is loud in will be loud out. Full stop. What it changes is the tonal balance of the incoming signal (a.k.a. treble and bass) because a soft passage will fall on a different preceptual loudness curve than the loud passage once the MV setting is below 0 dB and remains untouched. Or with your words DeQ "does not raise just the quitest bits" at all coz DeQ has no such feature/function.
Turn it on and off, listen careflly and you will see/hear.
Sorry, Feri, but what you say here is completely wrong. DEQ could not do anything at all if it left the dynamic range untouched. Perceptual differences are completely irrelevant as to how it works.
DEQ boosts the level of the 'quiet bits' when the MV is turned down from Reference. It does NOT boos the 'loud bits' as much. Hence, the dynamic range has changed.