Adobe are not alone in applying baseline exposure compensation at least from my last look into this topic.
From memory others such as DxO and (I think) capture one also do this.
Apart from the baseline exposure compensation a curve is also added to brighten the image (in Process 2012). So it is possible that if you do go by the look of the image on screen of your raw converter of choice that you could think that you were overexposing by potentially up to a +2EV (baseline + brightening curve) and of course if adjusting exposure in camera to compensate in reality you would be underexposing - or perhaps more correctly giving less than optimal exposure. In cases where the baseline exposure is usually negative (Pentax?) the effect is perhaps less dramatic due to the hidden curve correction to make the image look good/acceptable on screen.
Due to the fact that Adobe and others produce raw converters for many cameras from nearly all manufacturers there is a reason for this behavior and quoting (I think Eric Chan):
In order to have common controls such as Exposure compensation behave the same way across the different cameras, Camera Raw applies a baseline exposure compensation that varies from model to model in order to get them all to behave similarly when the exposure compensation control is set to its default value of zero.
The only way to view the raw data AFAIK (after some slight application manipulation) is to view in an editor that does not apply any compensation e.g. RawTherapee or in a program such as RawDigger or FastRaw viewer.
You can of course make your own camera profile quite easily and negate both the hidden baseline exposure compensation and any hidden Adobe curve manipulations.
Still I agree it would be good for users to be aware of what is happening under the hood
EDIT: Although not a user of Digital Camera Utility (SilkyPix?) it seems to me that they do the same i.e. apply hidden correction.
Last edited by TonyW; 06-28-2016 at 07:06 AM.