Again, the question I would ask you to consider: you previously had a smaller screen with a larger bezel. Your fullscreen “safe area” app will have more pixels displayed than it did before but instead of a solid bezel you'll have a strip of pure black with a black camera notch in the middle.

Everything which supports the notch (i.e. the system menu, apps which choose the custom display path to display things on either side) can use that extra space to display whatever makes sense (e.g. on many pro apps there'd be no reason not to extend side panels since they're going to be less than half the display width anyway).

In all cases, you have more pixels visible than you did before — it's just a question of how much more — and the primary drawback is that you have an almost imperceptible difference between the black of the camera assembly and the black of a micro-LED display with very high dynamic range. This just doesn't seem like a huge problem to me.