By chopping “Your display’s version of FF0000” out of your quotation, you dropped the whole point of the sentence, which is about the native RGB space of your display.
That some displays have a narrower-spectrum (and therefore more colorful) “R” primary than the sRGB spec is literally the premise of this conversation, and is understood by everyone here. But the sRGB spec’d primary is still extremely intense, beyond the practical needs of any user interface and the vast majority of images/videos.
It's not, because we're talking about #FF0000 in a specific color space. Most monitors these days can go well beyond sRGB's version of red, but you have to have some way to express that through the software to the monitor. This shouldn't just be the brightest red your display can show, unless you calibrated it that way on purpose.