Re: I have one question.
Status bar information is the important stuff - battery life, signal strength, clock etc - that needs to be read easily. Adding icons for less important stuff is poor Information Ergonomics, since in effect lower priority information is being elevated to the same status - visually - as important stuff. In addition, the icons don't need to be high resolution. If a notch is cut for a standard camera, you might only be able to fit in say 14 status icons compared to 15 on an uncut screen.
My point is that if a front facing camera must be fitted to a phone, the area to the sides of the camera might as well be used to display critical status information. The concept is sound in principle. This auxiliary dispkay area *does not* need to be a part of the main display, and might use a display technology with its own advantages (eg low power e-ink or OLED) when the main display uses a different technology.
However, fitting another component has its own cost implications - though probably not as high as cutting a notch *at this time* (though in future I don't know - the OLED does need to be cut from a larger sheet anyway, it become one process but with an ever so slightly longer tool path)
As for full video, most content is 16:9 but the ergonomics of holding a phone and reading websites are pulling phone screens towards 2:1 (aka 18:9) - any notch area isn't being used for video anyway.