Yes, but what's your alternative -- you reduced overall exposure for a good reason. Blown highlights can really ruin a photo. So you have to choose here -- a photo with blown highlights or a photo with lower IQ in the midtones and shadows than the photo with blown highlights. Me? I hate blown highlights and it's a rare day that I'll let them clip.
What's the camera going to do? The camera will chose screwup for almost all the photos you take if you let it. In the backlight case the camera chooses to nuke the highlights into oblivion. Here's extreme backlighting; blue sky, sunshine and shooting right into the light. In order to not blow the highlights I had to set a -1.7 EC. There are thin clouds in that blue sky just above the horizon and I captured them. The camera, applying an additional 1.7 stops of exposure would have nuked those clouds and blown the sky. The camera JPEG below is what came from the exposure I set that retained the highlights. It's there so you can see what I did to process the raw file. You'll have to imagine the camera's screwup. So I lifted the shadows -- I wanted that big tree on the right to be visible with detail and texture. Is it noisier than it would be in the camera's blown highlight version? Yes, of course, but my highlights are not blown and for me that's the right choice.
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Now let's flip the lighting around. Backlighting is not the typical photo for most folks. People much more commonly photograph frontlit scenes and scenes with lower contrast.
What's the camera going to do? The very thing that you're concerned about here and it's going to do that for lots if not most of everyone's photos. Let the camera select the exposure which will for the most part produce a good SOOC JPEG and the camera will underexpose the sensor. The very problem you've identified only it's doing it without good reason. In the backlit scene there was a good reason to reduce the exposure; don't blow the highlights. Now in a frontlit scene without any good reason to reduce exposure the camera underexposes the sensor in order to make a good SOOC JPEG. The photo below is middle of the day blue sky and sunshine, front to side lit. I had to set an EC of +1.7 to push the highlights up to the sensor's saturation threshold. The camera would have exposed 1 and 2/3 stops less. To paraphrase you, gathering less light and fewer photons in the darker areas than if I had shot it at the correct exposure to record the highlights and fully use the sensor. The problem you've identified is the default mode of operation for all of our cameras. I rejected that long ago.
I stopped paying attention to the SOOC JPEG and the camera's metering and I learned to set a precise exposure for the sensors in my cameras placing the brightest highlight at the sensor's saturation threshold -- the best possible exposure. Backlit or frontlit I do the same thing -- don't blow the highlights and use all of the sensor. Then I process the raw file. After years of doing that with multiple cameras I can tell you that my average exposure is +1 to +1.3 EC above the camera's metered exposure (I go -EC for backlight).
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