I've run some tests and noticed that Bandicam does not, in fact, record entirely lossless.
It seems that Bandicam will always deliver an alreay compressed output to any codec itself, specifically what looks like to be video with 4:2:2 chroma subsampling. This is especially apparent in fine, red details that are smaller than 4 pixels.
This is fine for most games, of course, but since I'm recording a lot of retro games where every pixel matters, I'd really would like to enable Bandicam to offer a true uncompressed 4:4:4 mode.
Will this ever happen?