This has nothing to do with luminance range though. Even if the output samples only had 4-bit precision, it wouldn't make black into gray.
Are you saying definitively that chrominance is not encoded at lower spatial resolution?
I also said it might be another cause of difference, not the cause.
Anyone might want to look at http://en.wikipedia.org/wiki/4:2:2 before simply assuming I am talking nonsense.
This has nothing to do with luminance range though. Even if the output samples only had 4-bit precision, it wouldn't make black into gray.