Steps to reproduce:
1. Download and open the attached project
2. See how the texture falloff looks in Gamma color space with sRGB enabled on the texture
3. Change Color Space to Linear
4. See how the texture falloff looks in Linear color space with sRGB enabled on the texture

Expected results: falloff should look roughly the same
Actual results: falloff looks different, sRGB flag does not change anything

Reproduced on: 5.5.0b9, 5.5.1p3, 5.6.0b5, 5.6.0b7
Feature introduced on 5.5