Hardly.
IMAX is a confession that 4:3 ratio is perfect for IMAX.
Aspect ratio is a film choice just as camera, color grading, sound mix, and, well, all decisions for the film. It's part of the story telling.
I have sorta been waiting on the SNL skit about a new line of tvs: the skit opens by showing the evolution of tv from tube to flat to widescreen. “Now expand your view to a new immersive experience” as it shows the widescreen expanding vertically to 4:3
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IMAX is a confession that 4:3 ratio is perfect for IMAX.
Aspect ratio is a film choice just as camera, color grading, sound mix, and, well, all decisions for the film. It's part of the story telling.
So no
just like AM radio still exists despite streaming being the dominate form.