Phones right now have holes in the top part of their screen. You s have a decent rectangle in the center. The top and bottom can be used for buttons and video controls. Can be used to place gamepad for games. And so on. It would actually move a lot of the overlay off the video. And it would be a more organic shape in the pocket. Also corners are fragile break points when falling down. It would have many benefits.
If you can’t see the difference between a tiny front camera hole vs straight up removing the corners of the device, idk what to tell you.
Here is why I think it would work:
Also, Most video have a ratio that is wider than the phone in landscape.
I think you may be a bit behind on how large the notch is on new phones. It’s literally just the front camera hole on new phones, including Galaxy, Pixel, and iPhones. I’m fairly certain that’s also the case with the majority of other Android manufacturers such as OnePlus, but I can’t be bothered to check.