I've gone through all the stages of grief and now I'm pretty convinced that it will happen (the only likely explanation for those 74 pixels) and that it will be fine.
My expectation is that it will sit in the middle of your menu bar in normal usage, which in 99% of cases is empty anyway. The OS is smart enough to push any extra menus to the right of the notch, so nothing will be obscured. In full screen mode it'll just give apps the 16:10 space, unless they opt in to a mode which would allow them to render extra stuff at the top of the screen. All pretty simple and painless.
I will be annoyed if there's no FaceID, though.