Does anyone with a notch actually care?
I've had an iPhone X more or less since they came out. The notched looked a little weird at first, and I haven't really thought about it since. There have been precisely zero times where it interfered with me watching a video. The most common 1.85:1 aspect ratio is unaffected unless you're stretching for width and chopping off a lot of the top and bottom of the picture, and 2.39:1 results in a very small amount of additional letterboxing (which you will have regardless).
To me, the most appropriate view of the areas to the left and right of the notch is that they are "bonus space" for wireless info, clock, etc. If you got rid of the notch, that space would not be available for anything (movies or otherwise). There are no circumstances where it is a net loss, and in most circumstances it is a net gain. One might argue that it was a mistake for Apple to even make it possible to stretch video into the notch (I would make this case if I actually cared, which I don't), but other than that it's just a really weird discussion.