This reminds me of an explanation I read a long time ago for why FM radio is so much clearer than AM. This doesn't really approach your question of informationa

This reminds me of an explanation I read a long time ago for why FM radio is so much clearer than AM. This doesn't really approach your question of informational density, but I thought it was interesting. If you're driving down the road and someone is shining two lights through the trees. One is white light and merely changes brightness, while the other rotates through three colors. Which light is easier for you to detect changing?