The Look-Up Tables are part of the Programmable Colour Compression and yes are still present even on Navi.
Mind these are as a note a key reason as to why Colour Modes are costless on said Hardware... unlike NVIDIA Hardware., and while and argument can be made that it reduces the Colour Ranges; the reality is AMD do pour a lot of R&D into Colour Reproduction on their Hardware; with a focus on what can be physically be perceived.
I mean keep in mind all Tone Mappers are, which are still used for HDR/WCG; are LUT.
They're somewhat necessary., and likely will be for some time; but remember AMD Hardware is still CAPABLE of running in Native FP16 Per Channel (if desired).