And to make it more fun, our car has an overlay on the left edge with a top down view of the sensors around the car. That one blocks the view completely in that edge. And has a black background window that slowly fades away.
Your perspective is biased. If the backup camera had been invented before you were born and the automobile after you had been born than you would consider it only logical and familiar to see backup cameras on the wagons and horse drawn carts that you were used to but you would consider automobiles to be 'the expensive gadget-based way of doing things [that] seems horribly shortsighted.'
My hatchback has about the best you could get (and they don't sell it here anymore) and I still added a backup camera, it's very useful.
My little GTI with a backup camera made me an invincible parking machine.
It also enables auto-parking and other enhancements while not inhibiting anyone that wants to perform those functions manually.
A bigger rear window wouldn't have let me see the toddler who'd wandered a short distance off from his parents in a car park and was standing right behind my car.
You can't see the pavement under the bumper, but you can see a kid on a tricycle right behind the car.
Personally I find rear view cameras to be quite disorienting. The view is quite distorted by the wide-angle lens and it's not clear where it can see and where it can't. Do I still have blind spots if I look at only the screen? Where are they? With a mirror I get an intuitive sense of what it can and can't see. Also, I expect the view to move when I move my head like in a mirror, which is part of what makes it so easy to get a sense of where the mirror can see. I suppose someday I'll get used to cameras, but today is not that day.
This doesn’t mean that I am not also checking the surroundings but the backup camera is such a big improvement that I would not buy any car without one.