It's a great sensor, but it certainly doesn't 'wipe the floor' relative to, say, the Nikon D810, which has better base ISO dynamic range and SNR over most, if not all, the tonal range.
D810 has a better SNR only at iso 50 which the A7rII doesn't offer at iso 64 A7 is better.. From there on the A7rII is slightly better.
Like I said,
at base ISO (which is 64, not 50, by the way - I'm surprised DxO hasn't fixed this error in their data after I pointed it out to them numerous times), the D810 has significantly more engineering dynamic range than the a7R II. I wonder if this has to do with the bit-depth of encoding even when the camera is out of 12-bit mode... Jim Kasson has implied that the a7R II only has up to 13-bit quantization at best, but perhaps someone else can weigh in (and apologies if I'm misquoting you, Jim).
At higher ISOs, the a7R II is better, yes. But the extended base ISO dynamic range means that when you're not light-limited (e.g. you're on a tripod), you can throw more light at the camera before the same tones clip, which means you have cleaner shadows (since the camera doesn't add too much of its own read noise). This isn't insignificant to certain shooters, and I'd love to see Sony also work on increasing full-well capacity of their pixels. Dual gain conversions, btw, will only get you so much more DR, since once you've effectively reduced all impact of read noise on your tones, you're left with 'how much light can any pixel hold?' and 'how efficient am I at gathering photons and making their encounters productive?'.
Interestingly, Bill Claff's data shows very little
photographic dynamic range difference at base ISO
between the a7R II and D810. So what remains to be seen is what photographic relevance the extended base ISO DR of the D810 has. We've just done some real-world shootouts to verify this, and will be analyzing and presenting that soon.
Cheers,
Rishi
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Rishi Sanyal, Ph.D
Deputy Editor, Technical Editor | Digital Photography Review
dpreview.com (work) | rishi.photography (personal)