They make the screen effectively narrower in terms of usable area, while making the phone physically wider.
Do not want.
Please go back to 9:16 or 10:16 screen ratios. If you need more space for the battery, gently round the back. It feels nicer in the hand even when it's 50% thicker than your competitors.
Also, a fingerprint reader / power button on the back is superior to all other placements, and cutouts of any kind are distracting and wasteful. OnePlus managed a motorized pop-out selfie-cam and it's still working for me seven years later.