Many of the basic designs of the camera come from pictorial conventions we're so accustomed to that we don't question anymore (with all due respect to the OP, who is questioning them
A rectangular frame is just one of those conventions. So are view camera movements. We tend to think that our view camera rules of keeping vertical lines parallel while letting horizontal ones converge are based on physics or the physiology of our eyes. But they're based on a pictorial convention that was arrived at through debate and trial and error during the Rennaissance. Artists tried all kinds of ways to depict 3 dimensions on a flat plane. Other methods had their advocates, but Alberti and Columbus won, and people eventually just accepted their conclusions. And now cameras are designed with their rules as a given.
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