The S line has bezels as well, they are right there at the end of the curved glass. They aren't much smaller than the iPhone bezels either. Plus you get more usable screen real estate with the flat front of the iPhone. I love the hideous notch, it makes it that much more functional because now what used to be bezel is functional screen. Hurray for no bottom bezel as well, much nicer. Just my opinion though.
Don't get me wrong, the Note will still be king of phablets. But man, a pencil capable 6.5" iPhone X would be a serious contender. You just know Apple would release something like that with a very strong first party line of apps and an entire developer paradigm for outside devs. They need something like that, and they are kings of taking existing stuff and perfecting it and making it popular. The Note series still seems to be niche for Samsung, while the iPhone Plus seem to be the best selling model.
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Yeah on paper, but for me the lack of notch and the bottom bezel make it feel like Samsung has the worse screen to body ratio. I think it's just personal preference, I dig Apple's design more, and I used to absolutely despise Apple's designs with their huge bezels.
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I didn't think that was a factor when viewing 16:9 video on a 18.5:9 or a 19:9 screen? If you blow it up to fit the notches it would just cut off the top/bottom, or be stretched. I am assuming the same thing happens on any other non 16:9 screen. For any other app though having the status bar around the notch saves space.