Your (mainstream) understanding is the point.
There is no "LPS Range" with regard to "PPFD" from a PAR meter because the meter doesn't just measure what the coral can (will) need or use. It measures a very broad swatch of spectrum, where only parts of that spectrum are actually useable by coral (PUR).
Let me make two quick analogies (not perfect, but illustrative).
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All Skittles
Blue
Red
Orange
Green
Yellow
Purple
Pink
Voilet
Blue, Pink and Violet are not relevant, (they have no nutritional value at all) but Red, Orange, Green, Yellow and Purple do have nutritional value for some creatures.
However - Humans can only digest Red Green and Purple. The others (Orange and Yellow) are not useable but because they have nutritional value for some creatures that digest and use them, our "skittle meter" counts them.
Jar 1 contains:
Red 150, Orange 150, Green 50, Yellow 100, Purple 50 - the skittle meter reads 500. You only can use 250.
Jar 2 contains:
Red 175, Orange 50, Green 100, Yellow 50, Purple 125 - the skittle meter reads 500. You can use 400.
So the skittle meter reads the same for both, but there is a tremendous difference in what is actually usable because the skittle meter lacks important information about WHAT skittles.
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Or another simplified way to think of "PAR" would be like "Calories". A "calorie meter" does not tell you how healthy a diet is because a diet is comprised of Fat, Carbohydrates and Proteins and to that end even subsets of those in different complexities.
So If I am on a 2,000 calorie diet that is split evenly between Carbs, Protein and Fat and you are on a diet that is 2000 calories of just Portein, our health outcomes will be drastically different and the "calorie meter" is mostly useless, as it lacks critical information about WHAT calories.
It is my opinion, based on what is being measured, that PAR meters are mostly misused and misunderstood toys. Sure, they provide a bit more meaningful number than lumens, but not really by much.
Please take a look at the chart below for a real world illustration
View attachment 32406661
You have two EXTREMELY different lamps graphed above. Both put put ~125 PAR. Rest assured, given two identical tanks, one with each lamp growth and pigmentation will be vastly different and on the "edge" one lamp may support health coral and the other will not.
More to digest. That was the SAME rig and SAME meter with as many variables removed as possible. If two random reefers had one of those bulbs each and measured them in situ, with the SAME exact model of meter (sensor and software) the results would certainly differ by 25% (or far more). So one reads ~95 and the other ~123. Add in the fact that two different generations or brands of meters are likely used and the numbers can easily be 50% different... maybe 90 and 180...
I hope that makes some sense. I am not sure what 99.9999% of the people in this hobby gain be taking or comparing "PAR" numbers. They don't really correlate to useable data in most instances.