I agree, I do hate the new aspect ratio, it's too skinny and kills the experience when watching YouTube videos with black borders and narrow screen (doesn't feel like it has a big screen at all, plus terrible speakers). The curves have no purpose, it's just there to look cool... it's actually very annoying and gets in the way a lot with phantom touches and difficult to hold.
Below: V20's 5.7 inch vs. S8+'s 6.2 inch. The V20 looks bigger.
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The V20's screen looks bigger, because in terms of surface area, it is bigger. Comparing diagonal screen sizes when the aspect ratios are different is not useful because they're not comparable.
That doesn't mean that the 18.5:9 screens are bad. It just means that you don't like them.
I went from a Nexus 6P to the GS8+ and there is no way I could go back to a 5.7" 16:9 panel again. My GS8+ is as tall, but narrower, which makes it way easier to actually hold in my hand.
And has been pointed out, the only video that's really 16:9 is a lot of youtube stuff and broadcast TV. Nothing else is really 16:9 and something shot with a wider aspect ratio looks way better on the GS8 screen than it would on a 16:9 screen.
Like anything, there are advantages and disadvantages, and some people will like things once way, some will like them the other.
But market trends seem to show that 18:9ish displays are going to become commonplace because for the majority of users, they are better overall experiences, despite the screens technically not having the same surface area as a 16:9 panel.