Jibes aside (the tin foil hat suggestion made me laugh), I can see some utility to selecting a specific crop in camera, something which can be made easy for users using EVFs. There may be other uses but time lapse comes to mind. If you have to match the framing for HD or SD, say, either because of preference or to match older footage, it would be convenient to frame the shots before taking them rather than cropping thousands of frames after the fact. I don't know much about high-end camcorders, maybe they do this already to facilitate time lapse.
There may be other reasons for forcing a specific aspect ratio, to fit an exhibit's format or other esthetic reason, in which case it wold make the job easier to select that crop in camera before shooting. This is probably not a widespread need, but given that it can probably be (relatively easily) done in firmware, you'd think someone would offer it as a feature or an option in a model or two. I think the Panasonic LX3 made do this, but I may have the model number wrong. I am surprised it hasn't caught on more.