Correction is useful for a bunch of different reasons, not all of them related to monitors. Even ISP pipelines without displays involved will still usually do it to allocate more bits to the highlights/shadows than the relatively distinguishable middle bits. Old CRTs did it because the electron gun had a non-linear response and the gamma curve actually linearized the output. Film processing and logarithmic CMOS sensors do it because the sensing medium has a nonlinear sensitivity to the light level.