Bezels for most of the reasons posted here and a couple more. Protection, durability, usability, symmetry, grip, accidental touches, old fashiony ...
I use the phone with one hand and swipe instead of type (and I write a lot), so a decent chin and some side bezels are more than necessary. I kind of understand this trend on better screen-to-body ratio and how the phone 'looks' while not in use, but for me is all about usability and how easy is to do the things I need to do with my phone. More a tool than a flashy accessory.
I see the notch as a not very useful gimmick. The gain on screen real state is minimal, it can be an aesthetical nuisance when you use the phone and the lack of bezels would change the way I use it. And my status bar can get very busy, on both sides.
For me a bit a chin with a front FPS that includes navigation gestures that let you hide the bar is the way to go. Told you, old fashion