It’s a tradeoff. I spend most of my time on a laptop screen (even when using an external monitor, the external is my secondary screen) and appreciate the reduction in screen waste. I don’t need or want a huge click area just for moving the window.
My favorite is 3:2 for laptops. 4:3 is a bit tall (screen is fine, but it makes the base much deeper as well). 16:9 is kind of crappy, especially if it’s a smaller screen.
I love it. I can grab either end of the title bar just fine. I don't need to waste the entire middle. And if I have multiple windows I'm sacrificing more like 3 lines and it does start to matter.