I'm sorry to say this, but what you clearly explained has nothing to do with what the OP is talking about. What you're talking about is HDR in photography, which is taking the image by making several images of the same scene at various shutter speeds. What the OP is talking about is HDR Video (has nothing to do with HDR in photography even though the name is the same). HDR10, HDR10+, Dolby Vision, HLG - all different standards of HDR video.
Basically it's a video with very high brights and low darks, with increased range and detail between the two, wide-color space, etc. It's also a big deal in gaming and, frankly, looks incredible. It usually comes with a 4K TV, although technically, it has nothing to do with resolution.
Netflix, Amazon, etc support HDR videos for certain shows (yes, the video or a game must be mastered for HDR for it to work). Consoles support it also - PS4, PS4 Pro, Xbox One S, Xbox One X and it started coming to PC gaming too. You can imagine that if iOS developers start creating games for it, they will look spectacular.
I would also love it if Netflix starts supporting it on their iOS app. Since the new Apple TV is rumored to support HDR for HDR TVs, I can imagine it will, if not sooner, than at least when the new Apple TV comes out. However, there are many questions - does iPad support the widely accepted HDR10, or something else? Also, for YouTube to work, Google must enable it, and they still didn't do it even on their own Android TV 7 (I have a Sony TV with it and HDR doesn't work in Google's own YouTube app, so I'm not so sure if we'll see it on the iPad soon).
https://en.wikipedia.org/wiki/High-dynamic-range_video