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IMAX movies are almost square (1.43:1) and they are indeed a better experience (let's ignore the 3D conversation, IMAX can be 2D).

I wouldn't call 1.43:1 "almost square", especially concerning this opinion of Eisenstein. It's closer to "half again as height", a bit more than 4:3.

But I wouldn't trust Eisenstein much for that matter anyway.