Eventually, cameras will reach the point where the sensor can capture a useable DR that is in line with human vision. While this may obviate the need to capture multiple exposures and merge them into a single, 32 bit HDR file ready for tonal range compression, the need to compress the tonal range of these new cameras will still exist - until HDR displays become widely accessible and available and until we no longer print things on paper or with similar, inherently LDR substrates and inks.
The art and science of HDR imaging is in the tonal range compression and reproduction of the scene as the human visual system perceives the scene. In order to create such an end result for whatever output device you choose, you need to start with data that encompass the full range of scene luminance, acquired by whatever means you can manage (a single exposure from the newest, capable sensors or multiple exposures merged into a single data set). If you are shooting with a camera that cannot capture the scene with something close to the DR of the human visual system (we can approximate that as about 14EV of useable data) then you have to adjust your acquisition technique (multiple exposures, for example) or make stylistic decisions about your shadows and highlights, as we have all done when trying to capture such scenes.
Even highlight reconstruction from partial data (extending highlight information) and aggressive noise reduction (extending shadow data) only can eek out a small increase in useable DR from an image. If your maximum useable DR is 10 EV, then it really doesn't matter if you make duplicates of this data and increase or decrease exposure in your raw converter - it's the same data. It would seem that making duplicates of a single file is really more about convenience in a particular workflow (exposure blending by hand, for example) than it is for increasing the DR of your data.
Raw converters will eventually adapt to the increasing DR and the need to produce a convincing tonal range compression - that said, the same problems of tonal range compression will apply. Which just makes you realize how incredibly well-adapted our visual system is.