Yes. Which is bad. Sometimes even streaming platforms show a cropped version (Simpsons on Disney+ is one example where they cut off the top and bottom so there aren’t any bars on the sides, which ruins many visual jokes throughout the series.)
If you want to zoom in on the picture so you get rid of the black bars, that’s your business, but be aware that the image was composed by the director and cinematographer in a specific way and when you zoom/crop, you aren’t watching it the way it was designed to be watched.
Another example is old VHS tapes that were cropped to 1.33:1 for old “fullscreens” SD TVs - in Star Wars, when Luke is looking for sand people through his binoculars, on the VHS tape I watched growing up, when he says “Wait a second, I can see one of them now,” I never understood what the hell he was talking about. Because the sand person who enters frame on the right is cut out of the picture entirely on the old 1.33:1 tape - in the full widescreen frame, you can see him plain as day.