Well I think this reflects real life photography as well. On bright sunny days, the exposure outside will be a lot brighter than inside (assuming no major sunlamps inside). The range of exposure for a camera (aka rendering) is a lot lower than the human eye. So if I were sitting outside the window looking in I would personally see something similar to Picture 2. But if I were to take a photograph of it, it would probably look more like Picture 3.
Rob