No. The LUTs are mapped correctly, but they are only useful if your viewfinder is correctly set-up and your viewing condition is perfect, in all other situations you are guessing.
Yes my VF is correct and I always use the loupe .. as I would think do the vast majority of professional DP,s. . do you have trouble setting up yours ? maybe its a defective unit.. but any decision where you put the exposure is always an educated guess anyway.. I think people are too worried and anal about the whole thing.. worry about framing,content,camera moves,lighting.. a couple of percentage points on a scope is not that important ...
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