A significant problem with this argument is that the majority of LCD panels are actually used to watch film and video, and the majority of people want cheap monitors.
The death of 4:3 is a natural consequence of these facts.
(Now, you could turn it on its side and optimise for reading portrait text, but given the harsh viewing angles of your typical TN panel this needs either an IPS screen or retooling your factory to build portrait panels - which butts against the 'wants cheap monitors' criteria. Technology progresses but not always in the direction you'd like...)
The death of 4:3 is a natural consequence of these facts.
(Now, you could turn it on its side and optimise for reading portrait text, but given the harsh viewing angles of your typical TN panel this needs either an IPS screen or retooling your factory to build portrait panels - which butts against the 'wants cheap monitors' criteria. Technology progresses but not always in the direction you'd like...)