There’s no point getting one of the new MacBook Pro with the Liquid Retina XDR (MiniLED) Displays if it’s not calibrated accurately. The good news is that out of the box, these displays are very accurate. The default profile is the P3 gamut capable of displaying HDR content to 1600 nits (brightness).
For my photography workflow, I need the much narrower sRGB colorspace at around 160 cdm (luminance). The nice thing about the display settings control panel in Monterey is the luminance is fixed so you can’t accidentally bump the brightness key.
Here is a good discussion on what’s changed with these displays and Monterey OS and a good run through on Youtube:
The delta-E on my display was a very good 0.8