Catch here being most devices and content are not the S8 ratio, nor will it be for the life of this device. Even if the content fit it is cropped on the corners due to the corner curves that make no functional sense.
Cropped content or smaller due to side black bars are the options here. Hopefully the Note 8 is current Note ratio. I expect it will be, since most professionals will not like the smaller width portrait display space.
Something has to come first. There's no drive to create content if technology isn't available for so that it can be viewed.
When the first 16x9 HDTV launched in 1998 there was virtually nothing to watch but 4:3. Later that year some broadcasts started and grew a little during 1999. Finally HDTV broadcast got it's big selling point with the Superbowl in 2000. Then it exploded.
4k was the same way. Other than NHK in Japan, there was virtually no push for 4k content when 4k first got the shelves a couple years ago. Now things are really ramping up but there's a long way to go. And the next standard, 8k, is already in play by NHK again but we seem to be quite a few years from 8k TV sets and even further from them being affordable.
2:1 content is out there, it's being used, but devices in that aspect ratio haven't existed until now. Will it take off? We will see.