sRGB is a device independent RGB space which was proposed and adopted by Microsoft and Hewlett Packard as a standard color space for the average user.
It is supposed to represent the gamut of the average user's monitor. Problems associated with this include:
- There is no such thing as an average user - especially with the high-end displays used by graphics professionals
- There is no average monitor.
sRGB is not all bad. The basic idea of converting images to sRGB which are headed to the web (and when the audience is the general public) makes sense. In many cases, supplying a large profile with each image does not make for a speedy web site. With sRGB, no profile is required and a properly tuned system on the user's end will display the image correctly. The sRGB also has a gamma of 2.2. This is the same gamma that is commonly calibrated to when calibrating displays.