Total screen area is not all that matters. If you think it is, then I would like to sell you this 1x1310721 monitor. Look, all the vertical space you could ever want! And it's bigger than 1280x1040!
Point is, it's not a "marketing scam," and your math about total screen area has nothing to do with widescreen versus 4:3. The products shifted that way because most people prefer widescreen monitors.
Interestingly enough, try to estimate the relative dimensions of your field of vision. Notice anything? It's much wider than it is tall.



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