Well, except that the default behavior pulls the background color into the irregular areas, which will probably yield some unexpected and less than desired results for sites that don't expect the background color to fill space to the left and right of the content.
I think a more sensible default would have been to fill the irregular space with black to create a letterboxed appearance. Basically reduce the irregular space to inactive unless specifically requested by the site's designer.
After a bit of experimentation, this seems to work to create a letterbox (really pillarbox) effect, as long as you don't add their new viewport-fit property.
Yeah, I really don't understand Apple's aversion to using black on their first phone with an OLED display. Nearly all of Apple's built in apps have kept their bright white UI's.
I think a more sensible default would have been to fill the irregular space with black to create a letterboxed appearance. Basically reduce the irregular space to inactive unless specifically requested by the site's designer.