I do not understand colour profiles that cannot be used for whole-display correction

I’m trying to understand colour profiles in GNOME. I currently have an ICC colour profile from the EDID where “full screen colour correction is not possible”.

I’m reading this: https://help.gnome.org/gnome-help/color-missingvcgt.html. And I’m not really understanding it.

GIMP, for instance, can use the colour profile to correct images.

Now, why can’t the GNOME compositor just do exactly the same thing that GIMP does for whole screen? Or, more specifically: I think it obviously can do that, so what would go wrong if it did that?