Note that this particular problem has existed for well over a decade. It's atrocious, but let's not pretend it's anything new.
The notch has just made menu bar space more scarce than it used to be.
If I open Xcode today on a 14" MacBook, two menu items extend past the notch, and they still hide your menu bar icons.
This has been the case for a long long time, and it's always been an obvious failure case.