Hi,
Besides the technical reasons already mentioned by others, I wonder about the appeal of a 4:3
If we are to follow the studies from Leonardo DaVinci and contemporaries, a Golden Section (~1.618:1, or ~3.2:2) ratio is probably more appealing ...
This myth keeps coming up; it might be relevant to architectural shapes (which is where that ideal arose in classical architcture) but as soon as there is an image to be placed in a rectangle, the facts show a quite differemt pattern of preferences. I have looked at the actual shape choices of paintings, drawings, and photography over many centuries, through examining the published dimensions in art books and show catalogs, and measuring reproductions in such books when the specs are not given, and have examined such "rectangular art works" from a wide range of eras, medieval to 20th century. The consistent result is that the dominant range of shapes is from 5:4 to 3:2, (1.25 to 1.5) with the mode about 4:3 (1.33) or a bit higher, but closer to 4:3 than to 3:2. If anything, there is a gap around the Golden Ratio (about 1.62), with a jump from 3:2 to highly panoramic shapes like 2:1 and beyond.
Another indication is the array of shapes for canvasses and drawing paper in art supply storees, and of course the shapes of photographic and inkjet printing paper: the same favorites of 5:4, 4:3, 7:5 and 3:2 dominate, and for canvasses and drawing pads, 4:3 seems to be the most popular shape, beating 3:2 into second place. Canvas shape options are more diverse than photographic ones, with the main extra shapes being square, 6:5, and 2:1.
Once you think about verticals as well as horizontals, the nonsense about the ideal shape being beyond 3:2 shpuld become clear, but even looking only at horizontals, my survey shows that dominance of the range 5:4 to 3:2, with a mode between 4:3 and 7:5.
If the Golden Ratio were so appealing for "rectangular artistic images", one would expect simple nearby shapes like 8:5 to be offered, but I have never seen canvasses, drawing pads or photogrphic printing paper offered in that shape, or in any shape between 3:2 and 2:1, other than the outlier of 17"x11", derived from doubling US letter size of 11"x8.5" and probably originally for two-up printing for folding to 11x8.5.
P. S. Hopefully we will not get side-tracked by the different shape choice for _moving_ pictures.