That means something different, but "≥10" would be better IMHO. Really there's an upper limit of 12, and 10.5 is more likely in practice: https://news.ycombinator.com/item?id=39922511
I decided to call it 10.5 bits based on rather fuzzy theoretical analysis and a small amount of practical experiments with using jpegli in HDR use where more bits is good to have. My thinking is that in the slowest smoothest gradients (where banding would otherwise be visible) it is only three quantization decisions that generate error: (0,0), (0,1) and (1, 0) coefficient. Others are close to zero. I consider these as adding stochastic variables that have uniform error. On the average they start to behave a bit like a Gaussian distribution, but each block samples those distributions 64 times so there are going to be some more and some less lucky pixels. If we consider that every block would have one maximally unlucky corner pixel which would get all three wrong.