Familiarity is the big design advantage of Pantone color. I look at the samples, pick a color, and that’s what I will get. Whether or not my monitor is calibrated or whether or not I am using a computer at all.
From a business perspective, if you’re logo is Reflex Blue, then any reputable print shop can print your leave-behinds and any decent sign shop can make your tradeshow display.
https://en.wikipedia.org/wiki/ProPhoto_RGB_color_space
that do a better job of modelling many forms of color vision than conventional RGB spaces.
The response of the eye under ordinary situations is modeled well with three stimulus values, but real colors are on a spectrum. Consider
https://en.wikipedia.org/wiki/Dolby_3D
which uses a total of six colors and high precision filters such that there is a red that passes the left filter and a red that passes the right filter. The two reds look almost the same without the filters, but with the filters one becomes completely invisible. In situations where light is interacting with something other than your eye (filters, a prism) the physics become vastly more complex.
Speaking of 3D images lately I've been frustrated with wide gamut displays because I make images that are viewed through these glasses
https://en.wikipedia.org/wiki/Anaglyph_3D
Namely the red channel goes to the left eye and the green and blue go to the left eye. (0, 180, 0) in sRGB is converted by the application (Photoshop, Web Browser) to something like (16, 176, 15) before sending to a wide gamut model. Adding a little bit of red and blue to the wide gamut green makes it look less saturated and more like the sRGB green, but it's bad for anaglyph stereograms because the extra red light causes an unwanted ghost image to appear in the wrong channel.