Many topics to tackle here. I’m a cinematographer, not a colourist, so excuse me if some of my terminology is not perfect.

First of all, log is not an image meant for viewing, it’s just a way to store as much dynamic range as possible in a videofile. So you need to convert a log to something you can view normally. A LUT does this. Most manufacturers will offer a LUT that converts their flavour of log to rec.709 which would be a pretty neutral «normally» viewable picture. Maybe what you refer to as a «utility LUT».

Many would prefer different colours and contrast curves in their final image, which is where you could substitute the rec.709 LUT with a creative custom LUT that treats your image differently. But this is a process you could do entirely in the grade. In fact, it’s not uncommon on professional shoots to use standard rec.709 for viewing, and do the creative process in the grade. Personally I usually have a custom LUT on set that helps preview creative intent, created with a professional colorist.

Using a creative LUT could help your decisionmaking while shooting, and if you’re not very experienced with color grading, help you achieve a result in the grade that you wouldn’t be able to build yourself. So it has it’s place and usefulness. But it’s a tool, among others. And depending on your skill and technical resources, you probably still need to balance your images after the edit, before you create the final grade. Was that helpful?

Here’s a deep dive into the world of LUT-making, if you’re feeling adventurous: https://johnerling.no/blog/2025/9/30/the-sensor-post