This is in line with what I have experienced as well:
So far my tests were done in a setup with real target nits 82 nits and a Sony VW760. Typically dynamic target nits I had set to 100 nits. For a friend of mine I have set up madVR on his PC and tested it in setup with real target nits of 180 nits. Also with a Sony VW760. The dynamic target nits I have set then at 150 nits.
Then I repeated some comparisons that I had done before.
1) Neo-XP 1.0 high, Pure Log, Strength 100:
3) Neo-XP new: 1000-1050-1100-1150-1250-1350-1500-1750-2000-2000-2000-2000-2000-2000-2000-2000
4) HSTM off
1. HSTM differences became smaller with the brighter setup. However HSTM effects are still positive and very welcome compared to off in all cases (1-3)
2. The old Neo-XP (1) is still my preferred curve. It is in-between the 2 others for Strength.
3. With the 80 nits setup I did not like L80 at all because of black crush and blown out highlights with a Sony 760 at 82 nits. I could not understand why people liked it. Now with the 180 nits setup highlights were quite ok. Also differentiation near black was fine now. Therefore L80 becomes very acceptable then.
4. Sometimes L80 emphasizes picture areas in a way that I think it shouldn't. But this is the price for Strength / pop.
5. (1) is more natural than any other curve that I had tested and ideal IMO for a default curve.
6. There is no curve that is in all scenes clearly the best.
IMHO people with a low nits setup like L80 because the highlights are emphasized strongly. That's why they go for curves with high Strength. Differentiation near black might still be good with L80 when you have a projector with a very good black floor / native contrast.
With the 180 real nits setup (DT 150 nits) Neeo-XP curve (1) gives great HDR effect including a strong 3D effect.
. For me here there is no need for any more "pop". Therefore I prefer a curve that is very natural but at the same time still improves the contrast even further compared to HSTM off. That's why also with 180 reals nits the Neo-XP 1.0 high is still my favorite.