The Nokia 8 produces videos with very natural-looking colors. The videos aren't over-saturated or look artificial, what makes you feel you are actually being in that place yourself when watching them. I like how the camera renders the red and green, which are sometimes way off the charts in some cameras, but on the Nokia 8 they look really natural and faithful to the photographed scene. Sometimes you don't need to be in a place to see whether the camera captures the exact colors. Many of us recognize the color intensity degree because we are used to see it everyday. When a green looks artificial or red just seem over saturated, you can notice it straight away. When the colors are accurate and faithful to how you've seen it in your own eyes, you get the feel like you are watching a real scene in front of your eyes, instead of a post-processed video that was altered artificially to make the scene appear maybe warmer, more colorful, sharper etc.
Here is a Nokia 8 1080p video sample shot by gsmarena. I like this video because it's still with no movement, so you get to examine and see how authentic the colors are and get to "feel" the scene yourself. Just look at the natural greens, blue sky and the white buildings, everything looks so natural, isn't it?
The second video is a 4K Nokia 8 camera test sample shot by Recombu YouTube user. I think once you view it you'll understand what I'm talking about.
Of course I didn't make any lab color test to check the exact accuracy of the colors and the dynamic range. This is just based on my observation. Some phone manufacturers boost the saturation and sharpness intentionally to make the scene appear more vivid and cheerful, and they don't emphasize on making it look authentic and natural. In fact, some people might prefer the over saturated processing look of videos, but this can easily achieved using video processing apps. It's hard to move back from a heavy-processed video to natural-looking one, but it's easy to manipulate a base natural-looking video to look much different than the original.
Overall, in my opinion this is definitely an advantage for the camera, being able to capture videos with very faithful and natural-looking color representation.