Not every picture wants to look as if it was exposed on a bright sunny day what ever the light conditions.
Of course there is no disadvantage in capturing the whole of the possible tonal range, but it would make the job of achieving what you saw pretty difficult to do in pp, unless you had both the right visual and technical skills, and the software to achieve it. This is outside the ability of incamera jpegs.
Would we see even more outrageous HDR, and at the other extreme bland unrealistic single level shots, with the shadows and highlights as detailed as the midtones, than we do now?
The ability to capture a greater tonal range must be a good thing, and something of the holy grail of for photographers, but it must not destroy a photographers ability to use light to create shape, texture and mood.