The resolution is 2436x1125 which is 19 (and a bit)x9 so it's not like it will interfere with most normal video content rendered to 16x9 resolutions. As Big_D says, the space either side seems to be used to show battery and signal/connections etc without impinging on the main rectangular screen area.
Without having a play with one it's hard to say but I suspect it won't be as distracting as you think - I suspect it'll either be showing something you want/need to see or it will fade out and blend in with the black notch bit.