Went back to re-read dpreviews noise primer part 2. Makes sense, but I'll do some more digging to (hopefully) really understand everything. I'm not sure if I yet properly understand how the second gain step interacts with either up- or downstream read noise differently, but maybe that's not that relevant, since from what I've understood, the second gain step generally reduces the impact of the read noise. So if the Z6III suffers from higher read noise, that's a proper explanation to what can be observed in the charts.
Dual Conversion gain is a change in the pixel itself, so the reduction in noise (in exchange for a reduction in full well capacity) reduces the upstream read noise. But, as you say, what' matters is that it reduces read noise.
The Sony a9III is a completely different situation. Its reduced DR isn't because of higher read noise, it's because it's essentially got 1/2-sized pixels: one for light capture and one for storing charge after the exposure but before readout. This means it saturates more quickly and thus has a higher base ISO.
This higher base ISO means you can never give it as much light as a full-frame camera with base of 100, and consequently every tone in the image is made up from about 1/2 as much light (a bit less, since it's ISO 250 vs ISO 100), and is consequently a stop and a third noisier.
So even if its read noise were comparable to a conventional sensor, photon shot noise will limit its DR earlier than on a camera that can go to ISO 100.
This is exactly the danger of reading too much into DR numbers. The a9III's base ISO is higher so all the tones in its image are worse than an ISO 100 camera, hence you hit the DR threshold sooner. The Z6III hits the DR threshold sooner because it has more read noise, but this doesn't hace a significant impact on much of its tonal range.
I was aware of the lower base ISO of the A9 III. If I've understood correctly, I should still be able to compare the cameras at the same ISO levels (that's what I've tried to express in my initial question).
At ISO 250, the a9 III will perform much like any other full-frame camera. However, this higher base ISO is the cause of its lower peak DR AND lower peak IQ (it'll be comparable to the output of an APS-C camera at ISO 100, but will be significantly better if you use both at ISO 250).
But the higher base ISO is the reason for its lower peak DR. So it and the Z6III have comparable peak DR figures but for very different reasons, and the Z6III's base ISO images will look better than the a9IIIs.
The interesting thing is, that in the dynamic range chart of
photonstophotos, the A9 III basically equals the A7 IV's dynamic range, as does the Z6III, after it's second gain step, and is only slightly trailing the A7 IV, even besting the Z6III at ISO 250. I do see however, that there seems to be some noise reduction (the "triangle down" symbol in the chart) which might skew the results. But still, according to this measurements, the A9 III performs visibly better than an APS-C camera in DR and only worse than the Z6III when the cameras are compared at their base ISOs.
Please excuse the extensive use of photonstophotos for making my point, this just happens to be such an easily accessible tool for objective comparisons. I'm not attempting to invalidate observations by you or dpreview, I'm just using the low hanging tools at my disposal.
The problem is that, while it's easily accessible, objective and very dependable (though using a cut-off of Bill's own invention, which makes it hard to compare), it's only showing one very specific aspect of IQ. As the Z6III and a9 III show, two cameras can have the same peak DR number for very different reasons.
Likewise I used to see a lot of people quote Bill or DxO's numbers for peak DR of the Canon EOS 6D and Olympus E-M1 and conclude that they had the same image quality, which isn't the case at all.
DR numbers can be interesting, but they can be a little bit like grabbing the tail of an animal while blindfolded: you risk making some distinctly spurious assumptions about what the animal is.
This three-parter isn't my best (I rushed to put it out when I thought we were closing), but it tries to convey what DR does and doesn't tell you.
Hence me trying to put out a three-part series about DR just before I thought we were closing, trying to make clear that DR ≠ IQ.
But I guess, if I understand correctly (after writing all the stuff above, not willing to delete it anymore), your main point is that DR does not tell you where the noise is more prominent. So even if the A9III equals the Z6III's DR, it might show more noise in the more important tonal ranges.
All DR tells you is when noise (be that read noise or shot noise from lack of light) exceeds a specific threshold in the extreme dark shadows below what's typically used in a standard image. Two cameras with the same DR cut-off can have radically different tonal quality above that, depending on the cause.
Richard - DPReview.com