Not if you're only working on one document at a time. Being distracted by some other stuff on the side is not always a benefit and many editors are surprisingly hard to set up to center documents on the screen while blending out anything on the sides.
Being distracted is never a benefit, but being able to see two or three files together and compare them is. At any rate, it's just extra space that you can leave blank if you wish. I see no upsides of 4:3.
A 4:3 aspect would give 1920x1440. You have 1920x1080. Where has the bottom quarter of the screen gone? It's not there.
How can that possibly be better?
I'd take 3:2 with high enough resolution as that's the equivalent of 2x 4:3 side by side in portrait. That would be a fair trade off. I'd still prefer a 4:3 laptop though!
In that case I'd prefer 3840x2880. It's still missing 25% comparatively speaking.
All the losses from browser header, footer, OS status bars, browser chrome or IDE widgets are at the top and bottom. Making that 16:9 letter box skinnier.
I'd prefer more lines to be productive - to display the whole email without scrolling, or the whole method definition or half the article on a site etc. When I want to watch a full res HD movie I'll take black bars top and bottom.
It depends on what your doing. I spend a lot of timing doing hardware design. So it can include VHDL for instance or I can be looking over PCB designs and various other layouts. If go to that Eizo's page you might see why a more square monitor is nice for CAD work not just long streams of text.