color management – Why is the contrast calculated in i1Profiler so low?

I just received a Dell S3221QS, which is a 32″ with a VA panel.

I used i1 Display Pro and i1Profiler 3.x to calibrate the monitor. At the end the calculated contrast ratio is just 256:1, which is very poor.

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I tried different settings, like D65 vs native, 120 cd vs native, table vs matrix, small vs large patch set, always the same result.

I tried to use the test on Lagom to use my camera to measure the contrast ratio, and I got about 2000:1, which makes more sense for a Va panel.

Why is the value provided by i1Profiler so low? I remember that my previous monitor (Dell UP2414Q, IPS gb-r display) used to achieve 850-950:1 with i1Profiler 1.x, which was a more reasonable value.

Why the change in the values?