This parameter, whatever stupid name it has, was introduced at the very beginning of the high bit depth project. Its only purpose was to 'typecast' a 16 bit video format over an existing 10 bit content.
Probably in those times native 10 bit support by plugins or external applications was practically non-existing, some external programs could handle 16 bits or one could use stacked 16 bit format.
I guess these were the reasons.
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