Here's the best answer IMO, you do have to post process...
"Protune is best for people who will post process their video. It provides a flatter image, which gives you more detail in the extreme shadows and highlights of an image, instead of clipping them to black and white. It also cuts out the camera's post processing, getting rid of the extreme contrast, sharpening, and noise reduction. The image is kind of washed out and sometimes grainy because of all of this, so you would probably want to use GoPro's Cineform Studio or another video editor to get it looking back to normal. Protune also increases the recording bitrate, which significantly cuts down on the compression blockiness you usually see in very fast motion videos (especially on YouTube). This will allow you to get much higher quality footage in the end than what non-Protune mode can produce, and be able to match it to the output of another camera if you are using more than just GoPro"