Yes, really.
Do you have a better idea? I noted very clearly that it couldn't capture the effect but I wanted to show SOMETHING different to keep people watching while discussing HDR.
The only other option is just to show more random gameplay with HDR disabled.
I know some people enjoy off-screen footage here even if it's not accurate.
I have thought recently about this a bit. It should in theory be possible to code up a script that takes an HDR image and outputs two images, one in which the lower brightness values are mapped to the typical gamma curve for standard dynamic range, and another image where the upper values are mapped down to the typical gamma curve for SDR. This would be able to give some hints as to the range of contrast and increased detail capture due to the greater bit depth. I've thought about doing this myself in MATLAB, but I simply don't have time to do the research to do it properly right now. Maybe once classes end in a few weeks I can take a stab at this.
I also don't know where to get HDR images, and I know this is probably especially tricky for console games due to lacking the capture hardware.
You could approximate this at the moment by using two cameras capturing the same footage with different exposure levels. This would be pretty hard to get 'right' but should give a better idea of the effect than a single camera can.