It is not about ACES and it is not about managing inputs and outputs in your DCC. Not in the slightest.
The main point is making rendering using wider gamut primaries easier. This is why 3ds max and Corona need colour management tools.
This is rough visualisation of measured real surface colours (rainbow boundary line) or PBR diffuse colours if you will, within visible spectrum. sRGB input is what Corona traditionally worked with, BT.709, so your colour swatches in max, textures you use with Corona etc. Everything within rainbow boundary and falling outside of sRGB triangle are real world colours that you can not describe with BT.709 primaries. You need BT.2020, ACEScg (AP1 triangle) or other for that. So you can make PBR simply more PB: