In short no :- )
.as presumably these are neutral settings to replicate the human eye's perception?
There is no such thing as this though.
(any) renderer is not replicating human eye but camera sensor, although they behave similarly in exposing for different light condition (exposure in Corona) and tone-mapping to accomodate broad dynamic range (highlight compression in Corona).
ExposureValue 0 in Corona is nothing important to consider. To translate Ondra's scientific hogwash it's "arbitrarily" (hah) set value at which value specified in material will look identical under unidirectional(domelight) light with intensity of 1. It's not useful for anything though. You should always adjust exposure to fit your lighting, just like in real-world photography, and whether you do that with actual photographic controls ( aperture/shutter/iso ) or by simple ExposureValue offset [ - ∞ , 0, ∞ ] doesn't matter.
I have a corona sun set up at a night time angle
Corona Sun/Sky system doesn't support night, it goes from Dawn to Dusk. If you want to represent night correctly, use night-time HDRi in Environment slot.
the whole image is incredibly over exposed.....surely this cant be right?
Yes it can, that is exactly what happens in reality. But specially in your case, there might be some issue with trying to get night-time from Sun system, which as I wrote above, isn't currently possible.
Shouldn't the exposure of 0 be correct for both the light bulbs and sunlight if they're all physically accurate
Exposure has nothing to do with type of lights. For example "Sunny 16" [ f-stop 16; shutter 1/125; ISO 100 ] would look correctly under broad daylight outside but not inside a room. It depends on overall light levels, which depend on spatial relations, materials, position toward lights,etc...
You should educate yourself little bit more about what is exposure, and how photographic exposure works (although you don't need it, or need to use it in rendering, it's still helpful to get the concept).
And unless you need linear file for compositing purpose, you should use highlight compression other than 1 :- ) That's exactly what your eye or camera sensor is doing.