There's some pretty glaring aliasing and moire issues. Gamma correction might matter once they try to come up with better shaders but that's not the main issue. Rendering fine detail like a spreadsheet without major artifacts is an interesting problem, burden is mostly on Apple to figure out a solution for app devs. Higher resolution screens won't really help that much.
Given the link says MacOS 10.6 gets it right, I wonder if they forgot, or couldn’t squeeze it into some tiny frame budget. Supposedly that’s why the pass through picture quality is so bad, they needed to cut quality in software to meet the 8ms end to end latency budget.
> If you want to give it a try, scale it down 50% using your best software.
Happy to report that in the last few years since 2007, GIMP did fix their default colorspace, I can scale the Dalai Lama down even with the Linear filter and it doesn't turn grey.
http://www.ericbrasseur.org/gamma.html