Yes. A true color-managed work flow requires custom profiles for each film stock, the monitor used for evaluating/correcting and any printers/film recorders to be used.
Not many people outside of high-end professional services or media production companies have the resources to do this intensive profiling.
Just having a proper computer monitor that is calibrated to the color space you will be working in is a huge factor toward consistent image quality.
If you are posting to the web and sharing with friends, you can't control what they use to view your material, so a lot of the more fine-grained aspects of a color managed system are lost. Show me 5 computers with the same image displayed and I'll show you 5 different "looks"...
It's like going into the flat screen TV isle at any big box store and looking at all the variations from screen to screen. These are showing strictly color managed material and.. well, you know how uniform that looks. Even though production companies spend tens of millions of dollars establishing and maintaining color managed workflows, someone with a remote control and few minutes can defeat all of that very quickly.
It is so bad, there is a push to establish a "filmmaker's mode" standard setting for TVs to try to preserve the intent of the creators that will bypass all the "creative" adjustments a user or manufacturer can impose on their carefully crafted images:
https://www.hollywoodreporter.com/m...dorse-filmmaker-mode-setting-new-tvs-1267374/
Strict color standards are only good in closed-loop system for fine tonal graduation and color; outside that, it's a crap shoot.
However, if you have at least a good monitor that is profiled properly for the color space you will be working in, you stand a better chance of looking good on a well calibrated monitor "in the wild".
A good free color display calibration software package is DisplayCAL at:
https://displaycal.net/
The document section has valuable information on color profiling a monitor, but be forewarned, it's a very tough subject and gets wildly complex real quick.
My 2 cents...