Exactly right. By shooting with a setting of, say, Vivid, the JPG and its histogram are markedly changed. If you adjust exposure based on that histogram, you may end up with a data capture less optimal than the flat file captured with Neutral. The biggest danger uis the increased possibility of clipping.
The point is to capture as much data as possible with minimal or no clipping. Then in post you are free to manipulate that data as you see fit.
Jon Kandel A New York City Nikonian and Team Member Please visit my website and critique the images!