The "rectilinear" or "f*tan(theta)" projection mentioned in the grandparent comment is equivalent to that pinhole camera. The former name is because the pinhole camera preserves straight lines, as noted. The latter is because if theta is the angle between the incoming ray of light and the lens's optical axis, and f is the focal length, then the pixel illuminated by that ray of light is at a distance f*tan(theta) from the center of the imager.
That rectilinear projection is indeed the most popular choice, but all projections involve tradeoffs as the FOV gets bigger, in the same way that all planar cartographic projections involve tradeoffs as the depicted region gets bigger. For example, the magnification of objects at the edges of a rectilinear projection gets extreme as the FOV approaches 180 degrees, and the projection stops existing entirely at or beyond that. That magnification is sometimes called "perspective distortion", even though it's inherent to the rectilinear projection.
Wide-angle lenses or multi-lens arrays will often deliberately choose f*theta instead, to avoid that "perspective distortion" or support FOV >= 180 degrees. Other projections (e.g. equirectangular) are also used, especially for stuff like panoramas and VR. The concept of distortion is meaningful only with respect to a desired baseline, which is often but not always rectilinear.