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Adding 3 colors would make it base 5 (BW+rgb) and give log(5)/log(2) or about 2.3 times the information per dot.

2 dots at 5 possibilities each gives 25 (5^2)

2 dots at 2 possibilities each gives 4 (2^2)

They only diverge from there. Or am I doing my math wrong?

Information is ~log(possible states) according to Shannon.

Log(25)/log(4) is 2.3. Among other things this definition has the nice property that two disks/pages/drives/bits together contain the sum of the capacities instead of their product.

To expand if it helps intuition: As data data density grows, the largest representable number grows exponentially.

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