I agree with that. That's what I also do.
I wonder why even in RED's official videos we can find a somehow misleading information about this.
An example is here:
https://www.youtube.com/watch?v=2y95tFuRUiY
At 1:00:16, one can see a side by side comparation shoot that's supposed to show the added clip protection and increased DR in highlights.
- The left side shoot was done with ISO 400 and then in post corrected to ISO 50 (a 3 stops decrease). We can clearly see the skin highlights burned out in both shoots, but not due to the ISO choice, since ISO do not change RAW information. So in my point of view its a case of a shoot that simply was overexposed from the beginning (I'm almost sure that those traffic lights were on...) and the problem remains after a change in ISO, as one would expect.
- In the right side an ND 0.6 which of coarse will block 2 stops of light, protecting the light from burning the skin tone. Then the ISO was lowered in post to 400 (only 2 stops decrease this time) so we can see better shadow detail (and the expected skin tone protection due to the ND filter).
It looks like this example can't show any difference in DR distribution by changing ISO. On the other hand it clearly shows the use of an ND filter, which was not the intention at all.
It's indeed said in the video that any ISO change must always be accompanied by a physical light change (obviously), which may lead to the question of the necessity of changing it in the first place, besides to have a specific level of brightness in the monitor, which of course can be useful.
In my point of view, the terms used are not the best. It's been repeatedly said that the "exposure was matching" and that was not the case (exposure is the light amount reaching the sensor, which was 2 stops lower with the ND). Maybe a better term would be the "monitor's brightness was matching".
Then again at
1:02:08, two shoots made at ISO 400 and another at 1600, both pushed 1 stop in post. It's said that the one with a starting lower ISO (400) is cleaner because of that. But the ISO 400 shoot was exposed at T2.8, while the 1600 ISO shot was exposed at T5.6. That's less 2 stops of light for the 1600 ISO shoot. No wonder why is not that clean, it just received less 2 whole stops of light!
It's the basic principle of any simple "scientific experiment" that only one variable change at the time, so that results can prove the intent.